IRCTC IPO Subscription: IRCTC's initial public offer (IPO) of state-owned Indian Railway Catering and Tourism Corporation (IRCTC) opens for subscription today, September 30.
The Subscription of the IRCTC IPO will close on October 3.
IRCTC IPO is a part of the government's divestment programme for the current financial year 2019-20. IRCTC shares will be offered to employees and retail investors at a discount to the final price.
IRCTC IPO Price Band:
- The price band of the IPO is fixed at Rs 315 to Rs 320 per equity share.
- The issue comprises an offer for sale of 2.01 crore shares of the face value of Rs 10.
- In terms of IRCTC's IPO, the issue comprises an offer for sale of 2,01,60,000 shares of Rs 10 face value.
- Out of the total issue size, 1,60,000 equity shares are reserved for eligible employees.
The issue will open on September 30 and closes on October 3.
IRCTC IPO allotment date and listing date:
The tentative date of allotment of IRCTC IPO shares is 9th October.
IRCTC shares will get listed on both BSE and NSE and tentative date for the same is 14th October.
About IRCTC Shares:
The total share dilution constitutes to about 12.60 per cent of IRCTC's paid up equity share capital.
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The minimum bid lot of the IPO is 40 equity shares, thereafter orders can be placed in the multiples of 40 equity shares.
Currently, it operates in four business segments, namely, Internet Ticketing, Catering, Packaged Drinking Water and Travel and Tourism.
The firm has consistently made profits over the years.
In FY 2019, its net profit rose to Rs 272.6 crore from a profit of Rs 220.62 crore reported for FY18.
Moreover, the company's revenue from operations has grown to Rs 1,867.88 crore in FY19 from Rs 1,470.46 crore earned during FY18.
The state-run entity 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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