State-run RITES, has finally filed a draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) to enter the capital market soon with an initial public offering (IPO) of 1,40,00,000 equity shares of Rs 10 each for cash at a price to be decided through a 100% book-building process.

The issue comprises a net issue to the public of up to 126,00,000 equity shares and a reservation of up to 14,00,000 equity shares for subscription by eligible employees.

The issue will constitute 28% of the fully diluted post issue capital of the PSU.

RITES Ltd., a Government of India Enterprise was established in 1974, under the aegis of Indian Railways.

RITES Ltd., an ISO 9001-2000 company, is a multi-disciplinary consultancy organization in the fields of transport, infrastructure and related technologies. It provides a comprehensive array of services under a single roof and transfers technology to client organizations.

The company is internationally recognized as a leading consultant with operational experience of working with different companies in 62 countries in Africa, South East Asia, Middle East and Latin America.

The equity shares are proposed to be listed on National Stock Exchange of India and Bombay Stock Exchange.

The book running lead managers to the Issue are Kotak Mahindra Capital Company Limited, Enam Securities Private Limited and ICICI Securities Limited.