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IRCTC to make stock market debut on Monday

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

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, which was open for subscription between September 30 and October 4, 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.

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.

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