Indian Railway Catering and Tourism Corporation (IRCTC), which is the only entity authorized by Indian Railways to provide catering services to the Indian Railways, is planning to raise money via an initial public offer (IPO).
IRCTC is planning to sell 20,160,000 equity shares of face value of Rs. 10 each in the price band of Rs. 315-320 to raise up to Rs. 645 crore. The online ticketing arm of Indian Railways, IRCTC also provides packaged drinking water at railway stations and trains across the country.
After the public offer, Government of India’s holding in IRCTC will come down to 87.40 per cent. IRCTC aims to achieve the benefits of listing the equity shares on the stock exchanges.
Here are key details about the IRCTC IPO, including important dates, lot size and issue price:
Investors can bid for IRCTC shares in the price band of Rs. 315-320 per lot (40 shares). The retail investors and employees of IRCTC are being offered a discount of Rs. 10 per share. Read More
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