The governement will be offering a net 12.6% stake of IRCTC through an Initial Public Offering on both NSE and BSE. The shares are expected to be valued at Rs 315-320 range and will be avialable in blocks of 40 shares.
Crux of the Matter
The IPO valued at Rs 645 crore will be the biggest IPO by the Indian Railways. After the IPO the governement will maintain an 87.4% stake in the company.
The IPO subscription will be available from Monday through Thursday and is being managed by IDBI Capital Markets & Securities, SBI Capital Markets and YES Securities.
This is part of the government’s ongoing PSU divestment program for 2019-20.
After Rail Vikas Nigam Limited (RVNL), Rail India Technical and Economic Service (RITES) and Indian Railway Construction Company Limited (IRCON), Indian Railway Catering and Tourism Corporation Limited (IRCTC) will be the fourth subsidary of the Indian Railways to undergo IPO.
Curiopedia
Indian Railway Catering and Tourism Corporation is a subsidiary of the Indian Railways that handles the catering, tourism and online ticketing operations of the Indian railways, with around 5,50,000 to 6,00,000 bookings every day is the world’s second busiest and highest of 15 to 16 lakh tickets every day. Its tagline is “Lifeline of the nation”. It is known for changing the face of railway ticketing in India and is one of the Miniratna companies of Central Indian government. Prior to its inception, Indian railway passengers had little options for quality food while travelling. More Info
Curated Coverage
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