Rites Limited IPO

Business description – Rites Limited is a wholly owned Government Company, a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India and the only company having diversified services and geographical reach in this field under one roof. The company has an experience spanning 43 years and has undertaken projects in over 55 countries including Asia, Africa, Latin America, South America and Middle East regions. The company is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia).

Rites is a multidisciplinary engineering and consultancy organization providing diversified and comprehensive array of services from concept to commissioning in all facets of transport infrastructure and related technologies. It has significant presence as a transport infrastructure consultancy organization in the railway sector. However, it also provides consultancy services across other infrastructure and energy market sectors including urban transport, roads and highways, ports, inland waterways, airports, institutional buildings, ropeways, power procurement and renewable energy.

Promoters of Rites Limited – The President of India
Rites Limited IPO details
Subscription Dates 20 – 22 June 2018
Price Band INR180 – 185 per share (retail discount INR6 per share)
Fresh issue Nil
Offer For Sale 25,200,000 shares (INR448.31 – 460.91 crore)
Total IPO size 25,200,000 shares (INR448.31 – 460.91 crore)
Minimum bid (lot size) 80 shares
Face Value INR10 per share
Retail Allocation 35%
Listing On NSE, BSE
Rites Limited’s financial performance (in INR crore)
FY2013 FY2014 FY2015 FY2016 FY2017 9M FY2018
Total revenues 1,083.1 1,223.5 1,159.1 1,226.7 1,563.7 1,061.1
Total expenses 753.5 835.8 691.8 773.2 1,044.7 669.4
Profit after tax 238.1 258.8 314.0 280.0 353.3 239.0
Net margin (%) 22.0 21.2 27.1 22.8 22.6 22.5

Rites Limited Contact Details

Rites Limited
RITES Bhavan No. 1
Sector 29
Gurugram– 122001

Phone: +91 124 2571665
Fax:
+91 124 2571187
Email:
cs@rites.com
Website: www.ritesltd.com

Registrar of Rites Limited IPO

Link Intime India Private Limited
C-101, 1st Floor, 247 Park
Lal Bahadur Shastri Marg, Vikhroli (West)
Mumbai – 400 083

Phone: +91 22 4918 6200
Fax: +91 22 4918 6195
Email: rites.ipo@linkintime.co.in
Website: http://www.linkintime.co.in

Valuation of Rites Limited (Based on latest FY)

Earnings Per Share (EPS): INR17.64

Price/Earnings (P/E) ratio: 10.20 – 10.48

Return on Net Worth (RONW): 17.28%

Net Asset Value (NAV): INR102.06 per share

Rites Limited IPO Subscription Details

Category Shares offered Subscription (no. of times, at 5 pm)
Day 1 Day 2 Day 3
QIB 12,000,000 0.01 0.31 71.71
NII 3,600,000 0.18 0.48 194.56
Retail 8,400,000 1.64 5.59 14.40
Employees 1,200,000 0.22 0.56 0.96
Total 25,200,000 0.59 2.10 66.78

Rites Limited IPO Allotment Status

Rites Limited IPO allotment status will be available on Link Intime’s website. Click on this link to get allotment status.

Listing Performance of Rites Limited

IPO Opening Date: 20 June 2018

IPO Closing Date: 22 June 2018

Finalisation of Basis of Allotment: 27 June 2018

Initiation of refunds: 28 June 2018

Transfer of shares to demat accounts: 29 June 2018

Listing Date: 2 July 2018

Listing Price on NSE: To be updated

Closing Price on NSE: To be updated

View Comments (5)

  • This one is better than Fine Organic but looking at the prices of other government IPOs it looks scary.

  • RITES is a good company. It is unlike other PSUs and if you walk into their office in Gurgaon, you can confuse it for a private sector office. And I'm not just talking about the building, it has totally different work culture, opposite of the sick culture of most PSUs.

    I've a friend working there and have been to the office a number of times. Grey market is supportive and pricing is good so I'll be taking a plunge in this one.

  • RITES is a PSU and offered prices is stable and satisfactory. It have got a very good track record and is professional in work. It is better to invest for long run.

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