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

Spectrum auction concludes; response better than expected

India on Tuesday concluded the spectrum auction after a total of six rounds of bidding. The authorities described the response as better than expected, with total bids valued at Rs 77,814.80 crore. The quality of service and customer experience is expected to improve with deployment of additional spectrum

Covid-19 has increased nutrition gap. Public feeding programmes need to be enhanced

One of the most significant setbacks from the massive upheaval caused by the Covid-19 pandemic is its effect on food and nutrition security. The pandemic has compounded the already rampant social inequity by adversely affecting the socio-economic status of millions of families across the nation. In the giv

Do you know these hidden forces behind your economic and business decisions?

Predictably Irrational By Dan Ariely Harper Perennial, 384 pages, Revised edition: 2010 In this meticulously researched work, Israel-American psychologist and behavioural economist Dan Ariely [h

Social media guidelines: All you need to know about the change

Amidst growing concerns around lack of transparency, accountability and rights of users related to digital media, the government has framed ‘Guidelines and Digital Media Ethics Code’ after elaborate consultation with the public and stakeholders, to have a “harmonious, soft-touch oversight

PLI scheme to boost IT hardware manufacturing

A production-linked incentive (PLI) scheme with a cost of Rs 7,350 crore over four years was approved by the union cabinet Wednesday, aiming to boost domestic manufacturing and attract global investment in IT hardware like laptops, tablets, PCs and servers. The scheme extends an incentive of

Govt could’ve done more to support film industry: Ramesh Sippy

Lamenting the fact that the government has not done enough to uplift cinema halls badly affected by pandemic-induced lockdown and get back audiences to theatres, legendary filmmaker Ramesh Sippy has said that the film industry needs a revival package and larger government support than that announced in the

Masterminds: Masterclass with Anu Malik on Music



Archives

Current Issue

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter