RITES IPO
RITES Limited (RITES) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 02 July 2018.
Listed 2 Jul
Subscribed 67.2x
Listing gain +2.7%
Issue details
Price band
₹180–185
Issue price
₹185
Lot size
80 shares
Min. retail bid
₹14,800
Max. retail bid
13 lots (₹1,92,400)
Issue size
₹799 Cr
Face value
₹10
Bidding
20 Jun – 22 Jun 2018
Listing
02 Jul 2018
Retail quota
35%
Registrar
Link Intime India Private Limted
Listing day
Listed at
₹190
+2.7% vs issue price ₹185
Day's high
₹224
+21.4% · low ₹190 (+2.7%)
Day's close
₹213
+15.3% · traded ₹1,028 Cr
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 1,20,00,000 | 86,05,86,560 | 71.7x | |
| NII (HNI) total | 36,00,000 | 70,04,22,960 | 195x | |
| Retail | 84,00,000 | 13,22,15,760 | 15.7x | |
| Employees | 12,00,000 | 11,52,480 | 0.96x | |
| Total | 2,52,00,000 | 1,69,43,77,760 | 67.2x |
Bids on NSE and BSE together, as published by NSE. Shares offered exclude the anchor portion. 7% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to RITES's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| Thyrocare TechnologiesApr 2016 | 73.2x | 225x | 8.73x | 73.5x | ₹479 Cr | +49.1% | +49.1% |
| Housing and Urban Development CorporationMay 2017 | 55.5x | 330x | 10.8x | 79.5x | ₹2,125 Cr | +21.7% | +29.8% |
| Cochin ShipyardAug 2017 | 63.5x | 289x | 8.51x | 76.2x | ₹2,542 Cr | +1.9% | +22.3% |
| RBL BankAug 2016 | 85.1x | 198x | 5.70x | 69.6x | ₹1,219 Cr | +21.9% | +35.8% |
| Prataap SnacksSep 2017 | 76.9x | 101x | 8.48x | 47.4x | ₹485 Cr | +35.4% | +40.6% |
| BSEJan 2017 | 48.6x | 159x | 6.48x | 51.2x | ₹1,243 Cr | +34.6% | +48.9% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Elara Capital (India) | 5 | +11.8% | 60% |
| IDBI Capital Markets & Securities | 7 | +19.1% | 43% |
| IDFC Bank | — | — | — |
| SBI Capital Markets | 56 | +16.7% | 61% |
Offer documents (NSE)
Frequently asked
What is the RITES IPO price band and lot size? ₹180–185 per share, with a lot of 80 shares, so the smallest retail bid is ₹14,800.
How many times has it been subscribed? 67.2x overall: QIB 71.7x, NII 195x, retail 15.7x, employees 0.96x.
How did it list? It opened at ₹190, +2.7% against the issue price of ₹185, and closed its first day +15.3%.
Other IPOs of 2018
Dinesh EngineersGarden Reach Shipbuilders & EngineersAavas FinanciersIrcon InternationalHDFC Asset Management CompanyTCNS Clothing Co.Varroc EngineeringFine Organic Industries
All 2018 IPOs →
Important: The AI listing estimates on Flash Finance are statistical estimates drawn from
how past Indian IPOs have listed. They are not a forecast of what any IPO will do, not a recommendation to apply, buy or sell,
and not investment advice. Listing prices depend on market conditions on the listing day and can differ widely from any
estimate; past patterns may not repeat. Subscription figures are as published by NSE (bids on NSE and BSE together) and can be
revised. Flash Finance is not a SEBI-registered investment adviser or research analyst. Read the issue's Red Herring
Prospectus and consult a SEBI-registered adviser before you invest.
