Rail India Technical and Economic Service (RITES Ltd), a multi-disciplinary consultancy organisation in the fields of transport, infrastructure and related technologies on Monday said its initial public offering (IPO) for 12 percent of its share capital in a price band of Rs 180 to Rs 185 per scrip will open on June 20 and closes on June 22, 2018.

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The company said that its equity shares are proposed to be listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange of India (NSE).

The IPO consists of 25,200,000 equity shares, in which there is a reservation of 1,200,000 equity shares for subscription by eligible employees and net public offer of 24,000,000 equity shares.

The firm said that a discount of Rs 6 per equity share on the offer price will be offered to retail individual bidders and a discount of Rs 6 per equity share on the offer price may be offered to eligible employees bidding in the employee reservation portion.

The bids can be made for a minimum of 80 equity shares and in multiples of 80 equity shares thereafter.

"The floor price is 18 times of the face value and the cap price is 18.5 times of the face value of the equity shares," the firm said.

The offer and net offer shall constitute 12.60% and 12% of the post-offer paid-up equity share capital of the company respectively.

First Published:Jun 18, 2018 5:46 PM IST