RITES, Fine Organic Industries to make stock mkt debut on Monday

Railways consultancy firm RITES and chemical manufacturer Fine Organic Industries will make their stock market debut on Monday after successfully completing their initial public offerings late last week.

Fine Organic Industries initial public offer was subscribed nearly 9 times, while that of RITES garnered strong investor demand, with the issue getting subscribed more than 67 times.

RITES IPO was open during June 20-22 and was in a price band of Rs 180-185.

RITES is the first state-owned firm to hit the IPO market in the current fiscal.

Elara Capital (India), IDBI Capital Markets & Securities, IDFC Bank and SBI Capital Markets were the book running lead managers to the issue.

Fine Organic's IPO was also open during June 20-22. The price band for the offer was fixed at Rs 780-783 per share.

JM Financial and Edelweiss Financial Services managed the IPO.


(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

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