Subscribe for perks & to support LI

Your Interests & Preferences: Personalise your reading

Which best describes your role and/or interests?

I work in a law firm
I work for a company / in-house
I'm a litigator at the bar
I'm a law student
Aspiring law student
Other
Save setting
Or click here to show more preferences...

I am interested in the following types of stories (uncheck to hide from frontpage)

Firms / In-House
Deals
Courts
Legal Education

Always show me: (overrides the above)

Exclusives & Editor's Picks

Website Look & Feel

Light Text on Dark Background

Save preferences


Note: Your preferences will be saved in your browser. You can always change your settings by clicking the Your Preferences button at the top of every page.

Reset preferences to defaults?

JSA for banks, DSK, Riker Danzig for rail engineering PSU RITES $94.5m IPO

Ministry of railways operated public sector enterprise, RITES has filed the draft red herring prospectus with SEBI for an initial public offering to raise an estimated Rs 600 crores (approximately $94.5m) by way of an offer for sale by the President of India for a sale of upto 24 million equity shares, including a reservation of additional equity shares in favour of the employees, as reported by The Hindu Business Line and VC Circle. The issue will be made through a 100% book-building process having a face value of Rs 10 per share at a price yet to be determined.

DSK Legal acted as the Indian legal counsel to RITES and the selling shareholders in relation to the proposed IPO.

Riker Danzig Scherer Hyland & Perretti acted as the international legal counsel to RITES and the selling shareholders.

A J Sagar Associates team advised Elara Capital India IDBI Capital Markets & Securities, IDFC Bank and SBI Capital Markets the book running lead managers to the issue and comprised of partners Rohitashwa Prasad and Arka Mookerjee, senior associates Pracheta Bhattacharya and Swapneil Akut, and associates Rushab Dhandokia, Anshu Bansal, Rishabhdev Jain, Ananth Balaji and Amandeep Singh Virk.

Incorporated by the railways ministry, RITES a Mini Ratna Grade 1 multi-disciplinary public sector enterprise and provides transport consultancy and engineering services in India, also providing consultancy services across other infrastructure and energy market sectors. It is the only export arm of the Indian Railways for providing rolling stock overseas and has an experience of 43 years in over 55 countries. It was also reported that the current issue is expected to enhance the company’s visibility and brand image and provide liquidity to the shareholders.

2018-01-17

This deal report is based on a firm's press release and may be only partially complete. Some firms or names of advisers may be therefore be missing. If you are or know one of the lawyers who acted on this deal but has not been credited, please leave a comment below (marked not for publication), preferably with your name and email address, and we will update the report.

Click to show 1 comment
at your own risk
(alt+shift+c)
By reading the comments you agree that they are the (often anonymous) personal views and opinions of readers, which may be biased and unreliable, and for which Legally India therefore has no liability. If you believe a comment is inappropriate, please click 'Report to LI' below the comment and we will review it as soon as practicable.
refresh Filter out low-rated comments. Show all comments. Sort chronologically
1
Show?
Like +0 Object -0 Bechara Associate 25 Jan 18, 14:17
Mera bhi naam dalo...
Reply Report to LI


Latest comments