RITES public issue to hit markets on June 20

The initial public offer( I PO) of railways consultancy firm RITE S will hit the market on June 20, with the government aiming to garner about ~4.60 billion through the share sale. RITE S would be the first state-owned firm to hit the I PO market in the current fiscalyear. The price band for the issue has been fixed at ~180-185ashare. Accordingto anofficial, another rail PSU— Rail Vik as Ni g am Ltd—could be these con done to hit the market with the issue size of around ~5billion. In the RITES IPO, the government is selling 12 percent stake, including 1.2 million shares to employees.