J. Sagar Associates advised Elara Capital (India) Private Limited, IDBI Capital Markets & Securities Limited, IDFC Bank Limited and SBI Capital Markets Limited (“BRLMs”) in relation to the proposed initial public offering of RITES Limited (“RITES”). RITES has filed a draft red herring prospectus with the Securities and Exchange Board of India for an initial public offering by way of an offer for sale by the President of India (acting through the Ministry of Railways, Government of India) of up to 24,000,000 equity shares, including a reservation of additional equity shares in favour of employees of RITES.

RITES is a Miniratna (Category – I) Schedule ‘A’ Public Sector Enterprise and a leading player in the transport consultancy and engineering sector in India, having experience of 43 years in over 55 countries. RITES is the only export arm of Indian Railways for providing rolling stock overseas (other than Thailand, Malaysia and Indonesia). In addition to transport infrastructure consultancy organization in the railway sector, RITES 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 JSA Team comprised of Partners Rohitashwa Prasad and Arka Mookerjee; Senior Associates Pracheta Bhattacharya and Swapneil Akut; Associates Rushab Dhandokia, Anshu Bansal, Rishabhdev Jain, Ananth Balaji and Amandeep Singh Virk.