The initial public offer (IPO) of RITES was subscribed 66.88 times on Friday, the concluding day of the offer with investors bidding for 168. 54 crore shares of the 2.52 crore shares offered to them. Qualified Institutional Buyers bid for 71.72 times the shares offered to them, high net worth individuals bid for 194.56 times their allocation, retail investors 14.68 times, and employees bid for 0.96 times of their allocation. RITES had set a price band of Rs 180 to Rs 185 per share for its initial public offering (IPO). The IPO is a part of the governments disinvestment programme and all the proceeds from the proposal will go the government. RITES has a significant presence as a transport infrastructure consultancy organization in the railway sector. The company also provides consultancy services across other infrastructure and energy market sectors including urban transport, roads and highways, ports, inland waterways, airports, institutional buildings, ropeways, power procurement and renewable energy. The company The companys profit after tax was Rs 312 crore, Rs 282 crore, Rs 361 crore and Rs 252 crore, respectively, for the same periods. The companys revenue from operations has increased at a compounded annual growth rate (CAGR) of 15.60% from Rs 1,012 crore in the FY 2015 to Rs 1,353 crore in FY 2017, and their profit after tax (PAT) has increased at a CAGR of 7.63% from Rs 312 crore in FY 2015 to Rs 361 crore in FY 2017. On a standalone basis, the company has an order book of Rs 4,818 crore as on March 31, 2018. In 2017, 36 companies raised Rs 67,147 crore through IPOs. Listing gains and returns by newly listed companies as also the positive sentiment in the broader market are among the reasons attributed to the trend. BSE, GIC Re, NIA, HUDCO, CDSL, Avenue Supermarts, Shankara Building Products, S Chand and Company and Cochin Shipyard are some of the companies who completed their IPOs in 2017.