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IRCTC makes blockbuster stock market debut; shares zoom over 101 percent

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) zoomed over 101 per cent in debut trade on Monday against its issue price of Rs 320.

India TV Business Desk India TV Business Desk
Mumbai Updated on: October 14, 2019 11:18 IST
IRCTC makes blockbusters stock market debut; shares zoom
Image Source : IRCTC MAKES BLOCKBUSTER D

IRCTC makes blockbusters stock market debut; shares zoom over 101 percent

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) made a blockbuster start on Monday on their listing debut on BSE and NSE. 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.

The Rs 645-crore IPO was in a price range of Rs 315-320 per share. 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.

Also Read: IRCTC IPO a huge hit among investors, could raise Rs 645 cr

Also Read: IRCTC IPO: IRCTC's 'Initial Public Offer' subscribed 111 times so far on D-day

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