19
Shares of RITES and Fine Organic Industries will list on the bourses on Monday.
Initial public offerings of both the companies ran from June 20 to June 22.
Railways consultancy firm RITES public offer garnered strong investor demand, with the issue getting subscribed more than 67 times.
The price band for the issue was fixed at Rs 180-185 per share.
RITES is the first state-owned firm to hit the IPO market in the current fiscal.
The company is a wholly-owned government firm, 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 diversified services and geographical reach in this field under one roof.
On the other hand, chemical manufacturer Fine Organic Industries initial public offer was subscribed nearly 9 times.
The price band for the offer was fixed at Rs 780-783 per share.
JM Financial and Edelweiss Financial Services managed the issue.
The IPO of Fine Organic received bids for 4,78,34,875 shares against the total issue size of 53,65,497 shares, translating into an overall subscription of 8.92 times.
Fine Organics has three production facilities in Ambernath, Badlapur, and Dombivali in Maharashtra.
As of Dec 31, 2017, these three facilities have a combined installed capacity of approximately 64,300 tonnes per annum.
Currently, the company has a 387 different range of products.
These are sold under the ‘Fine Organics’ brand.
Further, the company has a subsidiary in Europe and North America, and it sells directly to selected large direct customers.
