Upcoming IPO, RITES Limited

RITES Limited, a multi-disciplinary consultancy organization owned by the Govt of India, which offers services in the fields of transport, infrastructure and allied technologies, is coming with an Initial Public Offer (IPO) which will open for subscription from June 20 to 22, 2018.

The issue consists of Offer for Sale (OFS) of 2,52,00,000 equity shares worth Rs 466.20 crores. The price band is fixed between Rs 180-185 per equity share with the face value of shares at the rate of Rs 10. After the allotment, company will get enlisted on both NSE and BSE.

The objects of the IPO include to carry out the dis-investment of 24,000,000 Equity Shares held by the Selling Shareholder in the Company, equivalent to 12 percent of the subscribed and paid up Equity Share  capital of RITES as part of the Net Offer, and 1,200,000 Equity Shares that will be set aside for the Portion of Employee Reservation. The Promoter of the company will be the President of India acting through the Ministry of Railways.

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SENSEX and NIFTY both are RED and closed on down side : pinnacle financial services

Equity Tips

After a fluctuates of all the day, market are closed in red signals. Sensex are closed with 30 points and Nifty with closed 10 points in down side. Although the Midcap and Smallcap shares are jump high today but the giants stocks were beating today.

In the sector of the market climb Healthcare sector are closed with 2.27% boom. While  IT shares move above with 2%.

BSE Sensex are closed at Rs 26597.11 with -29.21 points down side. And Nifty are closed at Rs 7958.90 with – 9.95% also in down side. 

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Nifty continuously breaks record and move over and over : pinnacle financial updates

Stock Market

 

In NSE Nifty continuously grow over and over. Nifty Cross the target 7900 and stay at 7950.  Onther side Sensex also move over and cross the target Rs 26600. Share trader interested in IT, technology, bank and farma share.
Midcap and Smallcap market attract traders for trading. At this time BSE Sensex targeted on 26602.08 and move above side with 182.53 points.  Other side NSE +48.15 points above with Rs 7961.75.

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