State-owned RITES has filed draft papers with markets regulator Sebi to raise an estimated Rs 600 crore through an initial share sale. Incorporated by the railways ministry, the company provides transport consultancy and engineering services. The initial public offer (IPO) will see sale of 2.4 crore equity shares, amounting to 12 per cent, by the promoter, according to the draft red herring prospectus (DRHP) filed with Sebi. Explaining the reason behind the public issue, the company said it is aiming to achieve the benefits of listing the equity shares on the stock exchanges. "Further, our company expects that listing of the equity Shares will enhance our visibility and brand image and provide liquidity to our shareholders. Listing will also provide a public market for the equity shares in India," the firm said. Elara Capital (India) Pvt Ltd, IDBI Capital Markets & Securities Ltd, IDFC Bank Ltd and SBI Capital Markets Ltd will manage the company's IPO. According to merchant banking sources, the public issue is expected to fetch around Rs 600 crore. RITES had a post-tax-profit of Rs 362 crore in 2016-17 and a revenue from operations was at Rs 1,354 crore. Finance Minister Arun Jaitley had announced in the Union Budget in February last year the government's plan to list rail PSUs.
About Money99
Parag Patil is a technical analyst and trading system designer with stock excel programmer. I hope the articles and live chart of nse future and mcx on this Website will be as helpful and profitable to you . I try to update and post new articles tips everyday. My motto is to encourage the traders, so that they should able to understand the technique views behind the moment of stocks. I have deeply analyzed with many technical indicator with parameter and added to my amibroker afl. And even taken backtest report which is never being implemented. Any of the analyst expect me. Seeing all this you may understand that my views is more technical than commercial. If you are profited by my views I fill happy.
0 comentários:
Post a Comment