The stock exchanges saw 2 new additions today -
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.Last week the Rs 466-crore initial public offer had garnered strong investor demand, with the issue getting oversubscribed 67.24 times during June 20-22.
RITES is trading currently at Rs 200, a premium of 9% over its issue price of Rs 185.
On the other hand, chemical manufacturer Fine Organic Industries' initial public offer was over-subscribed nearly 9 times. The price band for the offer was fixed at Rs 780-783. Fine Organics has three production facilities in Ambernath, Badlapur, and Dombivali in Maharashtra. As of Dec 31, 2017, these three facilities have a combined installed capacity of approximately 64,300 tonnes per annum. Currently, the company has 387 different products, sold under the "Fine Organics" brand. Further, the company has a subsidiary in Europe and North America.
Fine Organics is currently trading at 810.60, a premium of 3.52% over its issue price.