India to sell 12% stake in Railway enterprise RITES through IPO Parked passengers trains are seen at a railway station in Mumbai, India, October 22, 2015. REUTERS/Shailesh Andrade Swaraj Singh Dhanjal June 13, 2018 PremiumState-owned engineering consultancy RITES Ltd on Tuesday said that it will launch its ₹466.2 crore initial public offering (IPO) on 20 June. Continue reading this story with a subscription to DealStreetAsia. Subscribe Already a subscriber? Log in Should your colleagues be reading this article too? Contact us for corporate subscriptions at firstname.lastname@example.org.