Govt plans to sell up to 20% stake in IRCTC
The Union government has proposed to sell up to 2.40 crore shares or 15 per cent of the paid-up equity share capital of IRCTC through the offer of sale route.
The Union government has proposed to sell up to 2.40 crore shares or 15 per cent of the paid-up equity share capital of IRCTC through the offer of sale route.
It has also proposed an additional IRCTC share sale of up 80 lakh equity shares of 5 per cent of the paid-up equity share capital, in case of oversubscription.
In total, the base IRCTC offer size and oversubscription option represent 20 per cent of outstanding equity shares of the company.
The floor price of the IRCTC offer has been fixed at Rs 1,367 per equity share.
The IRCTC share sale will take place on a separate window of the stock exchanges on December 10 and December 11. Only retail investors shall be allowed to place their bids on December 11.
The Twitter handle of the Secretary of Department of Investment and Public Asset Management (DIPAM) said on Wednesday: "Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. Govt. would divest 15 per cent equity with a 5 per cent green shoe option."
The story has been taken from a news agency
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
SRH vs GT IPL 2024 Ticket Booking Online: Where and how to buy SRH vs GT tickets online - Check IPL Match 66 ticket price, other details
Top 7 SWP Mutual Funds: Rs 50 lakh investment, Rs 70K monthly pension for 10 years, and Rs 42.30 lakh balance value; know more details
RCB vs CSK IPL 2024 Ticket Booking Online: Where and how to buy RCB vs CSK tickets online - Check IPL Match 68 ticket price, other details
Gold and Silver rate today (May 13, 2024): Precious metal under pressure; yellow metal near Rs 72,400, white metal above Rs 84,600
SIP Returns: How Rs 3,000, 5,000, and Rs 10,000 SIPs can help you build retirement corpus of Rs 1.06 cr, Rs 1.77 cr, and Rs 3.53 cr
TBO Tek IPO Listing LIVE Update: Bumper Debut! Share list at 55% premium - Buy, sell or hold? Check Anil Singhvi's view
11:57 PM IST