Market

India's RITES, Fine Organic IPOs see strong interest

Updated : June 22, 2018 06:42 PM IST

State-run engineering consultant RITES Ltd's initial public offering to raise 4.66 billion rupees was subscribed 66.86 times by 1230 GMT, stock exchange data showed.

Additives maker Fine Organic Industries Ltd's IPO to raise 6 billion rupees saw bids 8.81 times the number of shares on offer, data showed.

India's RITES, Fine Organic IPOs see strong interest

Initial share sales in two Indian companies aiming to raise a combined 10.66 billion rupees ($157.20 million) saw strong interest from investors on the last day of sale on Friday.

State-run engineering consultant RITES Ltd's initial public offering to raise 4.66 billion rupees was subscribed 66.86 times by 1230 GMT, stock exchange data showed.

Additives maker Fine Organic Industries Ltd's IPO to raise 6 billion rupees saw bids 8.81 times the number of shares on offer, data showed.

Indian companies have raised about 200 billion rupees ($3 billion) from initial shares in the first five months of 2018. They raised a record $11 billion from primary markets in the previous year.

Elara Capital, IDBI Capital, IDFC Bank and SBI Capital Markets are managing the RITES IPO. JM Financial and Edelweiss are managing the Fine Organic IPO.

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