Special train for Ramlala Darshan
IRCTC Kolkata is thrilled to announce the first run of the Bharat Gaurav Special Tourist Train for the fiscal year 2024-25, “Uttar Bharat with Ramlala Darshan ex-New Jalpaiguri”.
Shares of Indian Railway Catering and Tourism Corporation (IRCTC) more than doubled on their listing debut on BSE and NSE. On BSE, they rose as much as 118 per cent to ₹698, as compared to the issue price of ₹320. On NSE also they rose to ₹698 at day’s high. At 10:30 am, IRCTC shares have retained most of their gains and were trading near ₹685 on BSE.
IRCTC saw huge demand for its shares in the three-day initial public offering which ended on October 3. IRCTC’s IPO to raise Rs. 645 crore was subscribed close to 112 times by the end of the bidding process on Thursday, data compiled by the National Stock Exchange showed.
The issue price was fixed at ₹320 per share. Since retail investors received shares at a discount of ₹10 per share, for them the issue price is ₹310 per share. The issue comprises an offer-for-sale of 2.01 crore shares of the face value of ₹10 each. Many experts had recommended subscribe to the IRCTC IPO and also pointed out to potential listing gains. As per the data on NSE, IRCTC received bids worth Rs. 72,000 crore at the upper price band.
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IRCTC is authorised by the railway ministry to sell Indian railway tickets online, offer catering service and manufacture and supply packaged drinking water at railway stations and on trains across India.
The IPO of IRCTC, which was open for subscription between September 30 and October, was subscribed a massive 112 times. The retail category was subscribed nearly 15 times while qualified institutional buyers (QIBs) segment got subscribed 109 times and non-institutional investors (NIIs) category 355 times.
(With input from agencies)
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