Listing of IRCTC Shares at Double Price, Lakhs of Investors got a Tremendous Response

Indian Railway Catering and Tourism Corporation (IRCTC) shares were listed on BSE on Monday at Rs 644 and its price reached Rs 691 at 10.20 am. This was already expected in view of the tremendous response received by its IPO. This has made millions of investors rich.

Its price band was Rs 315-320. The application to the company's nitial public offering (IPO) was closed on 4 October. IRCTC had targeted to raise Rs 645 crore from this IPO and got bids for 112 times more shares than required. Its market cap has crossed 11 thousand crore rupees. Its shares were listed at Rs 626 on the National Stock Exchange (NSE).

IRCTC had targeted to raise Rs 645 crore from this IPO and got bids for 112 times more shares than required. Therefore, it is already expected that its listing will be at a very high price. The application for the IPO of IRCTC was open between 30 September and 4 October and the company kept a price band of Rs 315 to 320 for this.

However, the retail investor share was subscribed only 15 times. The minimum application for this IPO was a lot of 40 shares. The company's shares are listed on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

How many shares were applied 

Applications were sought for 2.01 crore shares through the IPO, but the application for 225.39 crore shares had already been done. The government currently holds 100 per cent stake in IRCTC and through this IPO, the government has reduced its stake to 12.6 per cent.

Significantly, IRCTC was established on 27 September 1999 and got the status of Mini Ratna Company from the Government of India on 1 May 2008. It also does business in segments such as e-catering, executive lounge, budget hotel, apart from railway catering service.