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Rites update on Employee OFS

Capital Market 

Rites announced that in accordance with the approval given by Alternative Mechanism on 21 November 2019, the President of India, acting through Ministry of Railway, Government of India proposes to offer upto 12,50,138 equity shares of face value of Rs. 10/- each to the eligible employees of the Company at a discounted price of Rs. 278.83 per equity share i.e. 5% discount to the discovered lowest cut-off price in the retail category of Rs. 293.50 in the offer for sale of equity shares of the Company carried out by the President of India acting through Ministry of Railways, Government of India on 22 November 2019 and 25 November 2019.

This Offer for Sale shall remain open from 03 December 2019 (10.00 AM) to 06 December 2019 (5:00 PM) (both days inclusive).

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(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Fri, November 29 2019. 15:39 IST