Ipo rate of rites
The state-owned RITES listed at Rs 190 on the BSE, a 2.7 per cent premium over its issue price of Rs 185, before closing the day at Rs 212.7. At the current market price, the stock is trading at 13 times its FY 2018 estimated earnings, which is cheaper than its peers EIL and NBCC, which are trading at 22 times and 31 times, respectively. Home IPO Grey Market Premium and Discussion IPO 2018 Rites Limited IPO Rites Limited IPO Business description – Rites Limited is a wholly owned Government Company, a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India and the only company having RITES IPO to hit markets on June 20, price band at Rs 180-185 per share. At the upper end of the price band of Rs 185 a scrip, the IPO would fetch around Rs 460 crore to the exchequer. The price band for the issue has been fixed at Rs 180-185 a share, as per a public notice.