Indian Railways Catering & Tourism Corporation Limited IPO
IRCTC is one of the biggest transportation across the world. It was incorporated on 27th September 1999. IRCTC to raise around Rs 645.12 crore through an IPO. The IPO will open for subscription on September 30, 2019. The company operates its business in four segments such as Internet Ticketing, catering, packaged drinking water under the ” Rail Neer” brand, and Travel & Tourism. As of the financial reports, IRCTC is doing well. The stock experts expect IRCTC IPO to go well and get good subscription numbers.
IRCTC IPO Details
| Issue Open | Sep 30, 2019 – Oct 3, 2019 |
| Issue Type | Book Built Issue IPO |
| IPO Size | 20,160,000 Equity Shares of Rs 10 (aggregating up to Rs 645.12 Cr) |
| Offer for sale | 20,160,000 Equity Shares of Rs 10 (aggregating up to Rs 645.12 Cr) |
| Face Value | Rs 10 Per Equity Share |
| Issue Price | Rs 315- Rs 320 Per Equity Share |
| Retail Discount | Rs 10 |
| Employee Discount | Rs 10 |
| Market Lot | 40 Shares |
| Min Order Quantity | 40 Shares |
| Listing At | BSE, NSE |
It is a book built type issue. The IPO subscription period will close on October 3, 2019. It offers a total of 20,160,000 equity shares. Out of the total of 20,160,000 shares, 1,60,000 shares reserved for eligible employees. It has fixed a price band between Rs 315- Rs 320 per equity share. The issue comprises an offer for sale of 20,160,000 equity shares of face value Rs 10.
It offers Rs 10 as a discount to retail and employees. The minimum order quantity of the issue is 40 shares, and a market lot is 40 shares. It will propose to list at BSE and NSE.
IRCTC IPO will manage by IDBI Capital Markets and Securities Limited, SBI Capital Markets Ltd, and Yes Securities Ltd.
As of the offer documents, 50 percent of the shares will available for allocation to qualified institutional buyers (QIB). Furthermore, 2 lakh shares available for the mutual fund portion on a proportionate basis. It offers more than 15% of shares to non-institutional investors (NII) and 35 percent of shares to retail individual investors (RII).
Objects of Issue
The company will utilize net proceeds raised from the issue towards
1. To carry out the disinvestment of equity shares by the selling shareholder constituting company’s paid-up equity share capital
2. To achieve the benefits of listing the equity shares on the stock exchanges.
IPO Promoter Holding
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 87.40% |
IRCTC Subscription Status
| Day | Date | QIB | NII | RII | Emp | Total |
|---|---|---|---|---|---|---|
| 1 | Sep 30, 2019 18:05 | 0.00x | 0.21x | 2.23x | 1.15x | 0.81x |
| 2 | Oct 1, 2019 18:25 | 1.65x | 1.73x | 6.21x | 2.64x | 3.25x |
| 3 | Oct 3, 2019 | 108.79x | 354.52x | 14.53x | 5.78x | 111.81x |
IRCTC IPO Prospectus
IPO Registrar
Alankit Assignments Ltd
Alankit House 2E/21,
Jhandewalan Extension,
New Delhi – 110055
Phone: (011) 4254 1234
Email: [email protected]
Website: https://www.alankit.com/
Disclaimer: This post is just information about the IPO. It does not give any advice or recommendation. Please read the offer document carefully and consult your advisor before investing.
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