The initial public offer (IPO) of Indian Railway Catering And Tourism Corporation (IRCTC), which is world’s second busiest e-ticketing platfor with around 5,50,000 to 6,00,000 bookings every day, was subscribed 33 per cent within the first few hours of opening of bidding on Monday.
IRCTC’s public offer to raise about Rs 645 crore received bids for more than 67 lakh shares against the total issue size of over 2 crore shares, as per exchanges’ data till 1300 hrs.
Price range for the company’s initial public offer has been fixed at Rs 315-320 per share.
The issue comprises 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. Bidding for the offer of the railways’ tourism and catering arm will close on October 3 (Thursday).
Equity markets will be closed on Wednesday on account of “Mahatma Gandhi Jayanti”.
YES Securities (India), SBI Capital Markets and IDBI Capital Markets & Securities are the managers to the offer. PTI