Govt puts RITES, Ircon disinvestment on track

The government is planning to divest up to 25 per cent of 200 million shares of the company

The government has decided to disinvest RITES Ltd in 2017-18, after temporarily shelving the listings of Indian Railway Finance Corporation (IRFC) and Indian Railway Catering and Tourism Corporation (IRCTC).
 
If the listing happens, the engineering consultancy arm of the railways will become the second railway subsidiary to get listed on a stock exchange, after Container Corporation of India Limited (CONCOR). The government wants to raise at least Rs 500 crore from the listing of RITES. It is likely to be followed by divestment in another railway subsidiary, Ircon International.