Rites Ltd. debuts with 2.70% premium at Rs 190.00
02/07/2018 23:24
Rites Ltd. makes a strong debut on the bourses with scrip got listed at Rs 190.00 on the Bombay Stock Exchange, a 2.70 per cent premium to its issue price of Rs 185.00. On the National Stock Exchange, the stock was listed at Rs 190.00.

The company, which raised 2.52 Cr from initial public offering, was subscribed 66.95 times, receiving bids for 16,871.37 lakhs shares against the total issue size of 252.00 lakhs shares.

The company, listed under B Group Securities post its IPO, opened for subscription from Jun 20 to Jun 22.

Following a strong opening, the scrip touched an intraday high of Rs 224.40 and a low of Rs 190.00, before closing the session up by 14.97 per cent to its listing price at Rs 212.70 on the BSE.

The company anticipates using the proceeds of the issue for .

Elara Capital (India) Private Limited,IDBI Capital Markets & Securities Limited,SBI Capital Markets Ltd.,IDFC Bank Ltd. as lead managers & LINK INTIME INDIA PRIVATE LIMITED is the registrar, to the issue.

Meanwhile, the broader benchmark BSE Sensex closed trade at 35,264.41, down 159.07 points, or 0.44 per cent.