IRCTC’s initial public offer (IPO) was subscribed more than 3.5 times on the final day of issue on Tuesday. IRCTC or Indian Railway Catering and Tourism Corporation – the online ticketing arm of the Indian Railways – plans to raise up to Rs. 645 crore through the public offer. The IRCTC IPO opened for subscription on Monday and will close at the end of trade on Thursday, October 3. The markets remained shut on Wednesday on account of Mahatma Gandhi Jayanti. (Also read: Last Day Of IRCTC IPO Today. Should You Subscribe?)
IRCTC IPO Subscription Status
By 10:30 am, bids for 7.30 crore shares were received as against the total 2.02 crore shares on offer under the IRCTC IPO, data from the National Stock Exchange (NSE) showed. That marked a subscription of 3.62 times.
IRCTC IPO – Here are some important things to know about the public offer:
Issue size: IRCTC is selling 2.01 crore shares under the IPO. At the upper end of the price band, the company is valued at Rs. 5,120 crore, and Rs. 5,040 crore at the lower end, according to brokerage Axis Capital.