IRCTC IPO Details: IRCTC Limited IPO Opens on September 30, 2019

IRCTC IPO Details: IRCTC Limited IPO Opens on September 30, 2019

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, 2019The 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

  Draft Prospectus 

  Red Herring 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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