IRCTC IPO in huge demand; subscribed 78 times so far on final day

Team Udayavani, Oct 3, 2019, 5:20 PM IST

New Delhi: The initial public offering of Indian Railway Catering and Tourism Corporation (IRCTC) was subscribed 77.91 times so far on the final day of bidding on Thursday.

The IPO to raise about Rs 645 crore received bids for 157 crore shares against the total issue size of 2 crore scrips, according to data available with the exchanges till 1530 hours.

IRCTC’s IPO was subscribed 3.25 times till the second day of bidding on Tuesday.

Equity markets were closed on Wednesday on account of ‘Mahatma Gandhi Jayanti’.

The initial public offering (IPO) is in a price range of Rs 315-320 per share.

The issue comprises an offer-for-sale of 2.01 crore shares of a face value of Rs 10 each. Out of the total issue size, 1,60,000 equity shares are reserved for eligible employees.

The offer is being managed by YES Securities (India), SBI Capital Markets and IDBI Capital Markets & Securities.