INSUBCONTINENT EXCLUSIVE:
IRCTC operates one of the most transacted websites, www.irctc.co.in, in the Asia-Pacific region.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
( | IRCTC IPO: Share Price, Valuation, Other Details)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.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.Important datesThe IPO will open on September 30
and last date for bidding will be October 3.IRCTC market valueIRCTC's market capitalisation after the conclusion of the IPO will be Rs
5,040 crore - Rs 5,120 crore.While 50 per cent of the IRCTC IPO is reserved for qualified institutional buyers, 15 per cent is reserved for
non-institutional buyers and 35 per cent for retail investors
The company has set aside 1.6 lakh shares in the IPO for its employees.IDBI Capital, SBI Capital Markets and Yes Securities are the book
running lead managers of the IPO and Alankit Assignments is the registrar.IRCTC: Company profileIRCTC was incorporated on September 27, 1999
and is a central public sector enterprise wholly owned by the Government of India under the administrative control of the Ministry of
Railway.IRCTC operates www.irctc.co.in, one of the most transacted websites in the Asia-Pacific region, with transaction volumes averaging
2.5-2.8 crore per month in the five-month period ended August 31, 2019, Axis Capital said in a note.Currently, IRCTC operates in four
business segments: internet ticketing, catering, packaged drinking water, and travel and tourism
IRCTC has also diversified into other businesses, including non-railway catering and services such as e-catering, executive lounges and
budget hotels, which are in line with their objective to build a "one stop solution" for their customers, Axis Capital addedIn the quarter
ended March 2019, IRCTC posted a net profit of Rs 272.60 crore, which was up 23.56 per cent compared Rs 220.62 crore in the corresponding
period a year ago.Get Breaking news, live coverage, and Latest News from India and around the world on TheIndianSubcontinent.com
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