IRCTC Day 2 Bidding Details
IRCTC IPO has opened for the subscription on 30th Sep 2019. It was subscribed to 81 percent on the first day of bidding. (Indian Railway Catering and Tourism Corporation )IRCTC IPO subscribed to 3.25 times on the second day of bidding.
As of the reports, the IPO was subscribed by retail investors, non-institutional investors, and employees. The issue highly supported by retail investors.
On 1st October, The received bids for 3.60 times by retail investors. Non-institutional investors subscribed 45 percent. Moreover, the reserved portion of employees subscribed to 1.77 times.
IRCTC IPO Second Day Subscription Details
According to the reports, On the Second day at 10:30 AM, IRCTC IPO received bids for 2.69 crore equity shares against the total size of 2.016 crore equity shares.
At 1:30 PM: retail investors being subscribed to 4.43 times, Non-institutional investors subscribed 64 percent while qualified institutional buyers 82 percent and employees subscribed 2 times.
At 4:00 PM: The IPO being subscribed to 2.06 times. It received birds for 5.26 crore equity shares. Retail investors (5.80 times), NII (100%), QIB (85%), and employees (2.6 times) subscribed to the issue.
As of IST at 5:30 PM, the issue subscribed to 3.25 times. It received bids for 6.55 crore equity shares against the total size of the issue. Retail investors (6.2 times), NII (1.73 times), QIB (1.65 times), and employees (2.64 times) subscribed to the issue.
Most of the investment advisors suggested to Subscribe the IRCTC IPO. Because the company has a unique business model. Moreover, from 2017, it has been sufficient and its profits on equity have outperformed 23 percent.
Moreover, the company is in the process of introducing new products and services in the coming years. IRCTC plans to add two water plants to its packaged drinking water business. In fiscal 2019, IRCTC noticed a 25 percent growth in its revenue compared to its previous gains. At the same time, it generated 54.99% of income from railway catering.
The IPO will close on 3rd October 2019. IDBI Securities, YES Bank Securities, and SBI Capital Markets will manage IRCTC IPO.
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