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

Corporate taxes cut to spur economy

Aiming to dispel the clouds of a slowdown, the government on Friday announced a series of measures including corporate tax breaks to revive economic activities. The stock market, depressed for a while, welcomed the move that would cost the exchequer Rs 1,45,000 crore. Union minister for fina

E-cigarette ban welcome; now aim for more tobacco control

In what it describes as a “major health and wellness initiative for the country”, the union cabinet has approved the promulgation of an ordinance to ban electronic cigarettes. The move, coming amid a debate over the ways to control tobacco use, should be welcomed, and it needs to be complemente

Ajay Singh is president’s press secretary

Ajay Kumar Singh, who has been the editorial director of Governance Now, has been appointed the press secretary of the president of India. The decision was made by the Appointments Committee of the Cabinet headed by prime minister Narendra Modi on Monday. The appointment will be on contract

Amit Shah on India’s languages: What else he said

Home minister Amit Shah’s remark on the need for a single national language has rightly sparked a debate, but the headlines missed much in his speech about language, culture, and identity. Giving away Rajbhasha Gaurav Puraskar and Rajbhasha Kirti Puraskar awards on the occasion of Hin

On A Personal note with musician Apache Indian

Renowned British singer, songwriter and reggae DJ, Apache Indian (originally known as Steven Kapoor) shot to fame with his style of music which came to be known as bhangramuffin (also called bhangragga) – a mix of bhangra, reggaemuffin and traditional dance hall in the early 1990s. His style changed



Current Issue

Current Issue

Video

CM Nitish’s convoy attacked in Buxar

Opinion

Facebook    Twitter    Google Plus    Linkedin    Subscribe Newsletter

Twitter