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<h1>RITES IPO Oversubscribed 66.75 Times; Government Sells 12.6% Stake, Raising Rs. 466 Crore.</h1> The initial public offering (IPO) of the public sector undertaking (PSU) firm RITES was subscribed 66.75 times, with the government selling a 12.6 percent stake, amounting to 2.52 crore equity shares. This is expected to generate Rs. 466 crore in revenue for the government. The IPO received bids for 168.20 crore shares valued at Rs. 30,630 crore, significantly exceeding the issue size. The segment for qualified institutional buyers was subscribed 71 times, non-institutional investors 194 times, and retail investors over 13 times. The price band was set at Rs. 180-185 per share, with a Rs. 6 discount for retail investors and employees.
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