Government kicks off its divestment drive for FY19 with the RITES IPO opening today!

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Government kicks off its divestment drive for FY19 with the RITES IPO opening today!
As RITES issue opens today, it will be the first state run railway company to launch an initial public offering. The government looks to offload 12.6% stake in the company for Rs 460 Cr, valuing the company at Rs 3650 Cr.
RITES Limited is an ISO 9001:2008 government organization involved in consulting for transportation and infrastructural projects for clients. The company operates under the aegis of Indian Railways in delivering projects for Indian as well as foreign companies. Explore more about the RITES Limited IPO  and RITES Limited IPO review and expert opinion. 

The government also plans to take Indian Railway Finance Corporation Ltd. and Ircon International Ltd. public. The stake sales will contribute towards its divestment target of Rs 80,000 crore for the financial year 2018-19.

Source: https://stocknote.samco.in/news/undefined.-RITES/government-kicks-off-its-divestment-drive-for-fy19-with-the-rites-ipo-opening-today!-db94345293d8ed300ca0351e7a2c83bc

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