Govt to divest 12.72% in RITES next month; plans to mop up Rs 4-4.5 billion

Govt will announce price band in a week

The government is planning to divest at least a 12.72 per cent stake in railway subsidiary RITES in a month's time.

According to sources close to the development, the plan is to raise Rs 4-4.5 billion through the listing of RITES. 

"The price band is likely to be decided in a week’s time by the Department of Investment and Public Asset Management (Dipam). Out of 12.72 per cent stake to be sold, 0.72 per cent will be available for employees," said an official. 

However, the proposed listing of another railway arm Indian Railway Finance Corporation (IRFC) is likely to be delayed further over