Railways consultancy firm RITES has opened its initial public offering (IPO) for subscription today on June 20.

The price for the IPO has been fixed at Rs.180-185 per share. The issue will close for subscription on June 22. The government is targeting to raise about Rs.453-466 crore through the share sale. Bids can be made for minimum 80 equity shares.

The issue consists of offer for sale of 2.52 crore equity shares by the government. Its 12 lakh equity shares are reserved for eligible employees. The offer will constitute 12.60% of the post-offer paid-up equity share capital of the company.

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