IRCTC IPO: The Indian Railway Catering and Tourism Corporation (IRCTC) made a blockbuster entry on its debut listing on BSE and NSE. IRCTC almost doubled its issue price of Rs 320 during the early trade on Monday.
IRCTC on the BSE, at 12.34 a.m., was up 11.49 per cent at Rs 718 a share after it touched an intra-day high of Rs 743.80 apiece. The company recently made its Rs 645-crore initial public offering (IPO) which was subscribed 112 times. IRCTC IPO also became a topic of interest on Twitter as people talked about the blockbuster IRCTC IPO.
Indiatvnews.com brings to you 10 interesting things to know about IRCTC IPO
10 things you need to know about IRCTC's initial public offering (IPO):
- The IRCTC IPO was a huge hit among investors, as it got subscribed 111.91 times earlier this month. The Rs 645-crore IPO was in a price range of Rs 315-320 per share.
- IRCTC IPO shares zoomed over 101 per cent in debut trade on Monday against its issue price of Rs 320.
- On the NSE, it skyrocketed 95.62 per cent to Rs 626 in opening trade. It listed at Rs 644, reflecting a huge jump of 101.25 per cent as compared to the issue price on the BSE.
- The IRCTC's IPO was open for subscription between September 30 and October 4. IRCTC IPO was subscribed 112 times at a price band of Rs 315-320 per share.
- The company's market valuation stood at Rs 10,972 crore in morning trade. The initial public offering of IRCTC was a huge hit among investors, subscribed 111.91 times earlier this month.
- IRCTC is the only entity authorised by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.
- IRCTC IPO is a part of the government's divestment programme for the current financial year 2019-20. IRCTC shares is offered to employees and retail investors at a discount to the final price.
- Investors who invested in the IRCTC IPO doubled their money in a single day. Retail investors and employees earned Rs 10 more for each share.
- The public issue had comprised an offer for sale of 2,01,60,000 equity shares.
- The state-owned entity IRCTC operates in four business segments -- internet ticketing, catering, packaged drinking water under the Rail Neer brand and travel and tourism.
Meanwhile, here are some of the reactions of the people who applied for IPO shares and doubled their money.
"IRCTC lists at `651; gaining 103.5% from its IPO price of `320. This is the 2nd best IPO listing after DMART in recent times. And Guess what Mujhko DMart bhi allott nahi huwa that and IRCTC bhi nahi huwa. Kabhi kabhi toh lagta hai apun hich Jethalal Gada hai," Twitter user Deepak Doddamani tweeted.
IRCTC lists at `651; gaining 103.5% from its IPO price of `320— Deepak Doddamani (@deepbaazigar) October 14, 2019
This is the 2nd best IPO listing after DMART in recent times.
And Guess what Mujhko DMart bhi allott nahi huwa that and IRCTC bhi nahi huwa.
Kabhi kabhi toh lagta hai apun hich Jethalal Gada hai. #Irctcipo #IRCTC
— Ashish K Nayak (@Nayakone) October 14, 2019