RITES and Fine Organic to list on Monday

The star IPOs of the past week, Fine Organic and RITES Limited are slated to list on the exchanges on Monday. Both the IPOs were well-subscribed inspite of volatile market condition during the week.

High investor interest is seen in RITES Limited, which is government enterprises engaged in railway infrastructure consultancy. The IPO offer was subscribed more than 67 times and has received positive recommendations from market participants due to good revenue visibility and attractive valuation.

While the interest in Fine Organic is a tad lower, as its valuation is not comparable due to absence of any listed peers and appears pricey at the higher end its the price band of Rs. 783 per share. The IPO was subscribed nearly 9 times.

Meanwhile, on Friday, the markets registered a rebound, reflecting positive investor sentiments. The benchmark indices closed up more than 1 per cent. BSE Sensex closed at 35,423.48, up 385.84 points or 1.10 per cent and Nifty50 closed at 10,714.30, up by 125.20 points or up 1.18 per cent.