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 LimitedÂ
RITES Bhavan No. 1
Sector 29
Gurugram– 122001
Phone:Â +91 124 2571665
Fax:Â +91 124 2571187
Email: [email protected]
Website:Â 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: [email protected]
Website:Â 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)Â | ||
| 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 is now 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: INR190 per share (up 6.14% for retail investors)
Closing Price on NSE: INR213.30 per share (up 19.16% for retail investors)
This one is better than Fine Organic but looking at the prices of other government IPOs it looks scary.
Go ahead and invest in this. You will not regret.
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.
IPO IS SUBSCIRBED IN RETAIL 21 TIMES IT’S GOOD REWARD
66 times subscription!!! Very difficult to get shares
Kab ayega allotment?!?
Allotment aa gaya hai aur most probably aapko nahi mila hai. Mujhe to nahi mila hai!!
RITES SELL OR HOLD
WHAT RATE CAN SELL
Keep it, a real compounder. It will be foolish to sell right away.