Government divests 12% stakes in RITES; IPO opens on June 20

As an initial public offering 25,200,000 equity shares are offered in which employee reservation portion is up to 1,200,000.

pragya

Praggya Guptaa | June 18, 2018


#divestment   #mini ratna   #PSU   #railways   #RITES   #IPO  
Snapshot of RITES growth over the years
Snapshot of RITES growth over the years

The railway infrastructure consulting PSU, RITES Limited is coming up with its IPO on June 20, 2018, as the government of India is selling its 24 million equity shares (12%) stake in the Mini Ratna PSU. As an initial public offering 25,200,000 equity shares are offered in which employee reservation portion is up to 1,200,000. 

 
Besides railways consulting, RITES has diversified into many areas for growth such as highways, metro, transport, port and highways, etc. for growth. Also expanded into renewable energy, RITES have also formed a company with the Ministry of Railways with 51 percent stake in it. Railway Energy Management Company Limited and taken project in 55 countries. 
 
Commenting on the impact of the cost of EPC projects going down and business risks, Rajeev Mehrotra Chairman and Managing Director, RITES said, “Besides consultancy, we have added a lot of new expertise be it export or leasing as the situations. Concerning EPC cost going down, we have done enough risk management. We are sure of controlled growth of the company.  We are a very conservative approach to the business growth.  We have expanded only into those segments where there is a small credit risk. “On EPC said that company is working on fixed margins so cost fluctuation will not affect them. On risk part, he said he sees the payment realisation as the only risk.”

Comments

 

Other News

“Practise ‘mental distancing’ to keep calm amid epidemic”

Half way through the year 2020, it has been a tough time all around the world: Covid-19 epidemic, loss of lives, economic hardships and also numerous other problems – natural disasters and political protests. Coming together, it all has mental health under immense strain. To discuss this and othe

Understanding immunity: How to boost it during Covid-19

In a first, the Department of Home Science, Sri Padmavati Mahila Visvavidayalam (Women’s University) Tirupati, Andhra Pradesh, recently organized an international webinar on “Nutrition and Immune System Support during COVID-19 Pandemic”. Speakers included eminent national and internationa

Covid-19: India’s recovery rate improves to 59.43%

Even as Unlock enters the second phase, the number of Covid-19 infections continues to rise to record levels and India remains No 4 in the worldwide list, yet there is glimmer of hope: its recovery rate is also rising in tandem. There are 1,27,864 recovered cases more than the active Covid-1

Coming soon at a station near you: private trains!

A long-debated idea is finally coming to fruition as the Indian railways has decided to join hands with the private sector, in running some train services to begin with. The ministry of railways has invited ‘request for qualifications’ (RFQ) for private participation for operatio

A place of local democracy in pandemic governance: The case of Mumbai

Democracy in India is now taken for a fact, with an unstated assumption that all our institutions are democratic and hence often our successes and more often failures are attributed to ‘democracy’. However, a key frontier where democracy remains a challenge is that of local governments and that

Why TikTok, other apps were banned: “Engaged in anti-India activities”

India, facing China’s aggressiveness at border, has banned 59 smartphone apps, including TikTok, as they were indulging in activities harmful to India’s sovereignty and integrity. The reason cited was: “in view of information available they are engaged in activities which [



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter