1. You Are At:
  2. English News
  3. Business News
  4. IRCTC IPO: After raising Rs 645 cr in IPO, IRCTC set to make stock market debut today

IRCTC IPO: After raising Rs 645 cr in IPO, IRCTC set to make stock market debut today

The initial public offering (IPO) of Indian Railway Catering and Tourism Corporation (IRCTC), which recently concluded Rs 645-crore as it got subscribed 111.91 times on the final day of bidding, will make its stock market debut today.

India TV Business Desk India TV Business Desk
New Delhi Published on: October 14, 2019 8:10 IST
IRCTC IPO: After raising Rs 645 cr in IPO, IRCTC set to

IRCTC IPO: After raising Rs 645 cr in IPO, IRCTC set to make stock market debut today

The initial public offering (IPO) of Indian Railway Catering and Tourism Corporation (IRCTC), which recently concluded Rs 645-crore as it got subscribed 111.91 times on the final day of bidding, will make its stock market debut today.

The shares will be listed on the BSE and the National Stock Exchange (NSE).

"Effective from Monday, October 14, 2019, the equity shares of IRCTC Ltd shall be listed and admitted to dealings on the exchange in the list of 'B ' Group of Securities," BSE said in a circular.

The 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 category meant for qualified institutional buyers (QIBs) was subscribed 108.79 times, non-institutional investors (NIIs) category witnessed a subscription of 354.52 times, while the same for retail investors stood at 14.65 times.

Department of Investment and Public Asset Management (DIPAM), in a tweet, said: "IRCTC IPO has evoked a tremendous response from all the categories of investors, with the issue being subscribed more than 111 times. The issue, which divested 12.6 percent of GoI's stake in the CPSE is expected to generate a revenue of Rs 645 cr. It is the 2nd CPSE to be listed this fiscal."

The issue comprised an offer-for-sale of 2.01 crore shares of face value of Rs 10 each. Out of the total issue size, 1,60,000 equity shares are reserved for eligible employees.

Yes Securities (India), SBI Capital Markets and IDBI Capital Markets & Securities were the merchant bankers of the issue.

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

Write a comment

Bigg boss 13