INSUBCONTINENT EXCLUSIVE:
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
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.
