RITES IPO oversubscribed 2.11 times on Day 2

New Delhi: The initial public offer of railways consultancy firm RITES was oversubscribed 2.11 times on the second day of bidding on Thursday. The share sale to raise about Rs 466 crore received bids for 5,32,54,320 shares against the total issue size of 2,52,00,000 shares, as per NSE data. The category set aside for qualified institutional buyers (QIBs) was subscribed 32 per cent, non institutional investors 49% and retail investors 5.59 times. Till Wednesday, the IPO was subscribed 60%. The price band for the issue has been fixed at Rs 180-185 per share. PTI