The initial public offering (IPO) of Indian Railway Catering and Tourism Corporation (IRCTC) had received overwhelming support from investors as it got subscribed 111.91 times on the final day of bidding on Thursday and is expected to raise Rs 645 crore.
Now, IRCTC is set to make its stock market debut on Monday. The shares will be listed on the BSE and the National Stock Exchange (NSE).
"Effective from Monday, October 14, 2019, the equity shares of IRCTC Ltd shall be listed and admitted to dealings on the exchange in the list of 'B ' Group of Securities," BSE said in a circular.
IRCTC IPO: Tremendous response
Department of Investment and Public Asset Management (DIPAM), in a tweet, said: "IRCTC IPO has evoked a tremendous response from all the categories of investors, with the issue being subscribed more than 111 times. The issue, which divested 12.6 percent of GoI's stake in the CPSE is expected to generate a revenue of Rs 645 cr. It is the 2nd CPSE to be listed this fiscal."
IRCTC IPO: HERE ARE TOP DETAILS TO KNOW:-
-The IPO, which was open for subscription between September 30 and October 4, was subscribed 112 times at a price band of Rs 315-320 per share.
-The category meant for qualified institutional buyers (QIBs) was subscribed 108.79 times, that for non-institutional investors (NIIs) was subscribed 354.52 times and retail investors was subscribed 14.65 times, sources said.
-The issue comprises an offer-for-sale of 2.01 crore shares of 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.