New Delhi: The government is planning to divest up to 15 pc stake in railway PSU RITES through an offer for sale (OFS), which could fetch around Rs 700 crore to the exchequer. Railways consultancy firm RITES got listed on the bourse in July 2018 after it raised about Rs 466 crore through an initial public offering (IPO), which got subscribed 67 times.
The stock got listed at Rs 190 on the bourses, against the issue price of Rs 185. DIPAM also invited Expression of Interest (EoI) from merchant bankers by June 6, to assist and advise the government in the sale process.
