Markets

IRCTC to make stock market debut on Oct. 14

File photo: A view of the Executive Lounge in New Delhi Railway Station by IRCTC.

File photo: A view of the Executive Lounge in New Delhi Railway Station by IRCTC.   | Photo Credit: Sushil Kumar Verma

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

Indian Railway Catering and Tourism Corporation (IRCTC), which recently concluded its ₹645 crore initial public offering, will make its stock market debut on Monday.

Explained | Why the rush for the IRCTC public offer

The shares will be listed on the Bombay Stock Exchnage (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, which was open for subscription between September 30 and October 4, was subscribed 112 times at a price band of ₹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.

 

The issue comprised an offer-for-sale of 2.01 crore shares of face value of ₹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.

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Printable version | Nov 22, 2019 8:26:44 PM | https://www.thehindu.com/business/markets/irctc-to-make-stock-market-debut-on-oct-14/article29672201.ece

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