INSUBCONTINENT EXCLUSIVE:
Indian Railway Catering and Tourism Corporation (IRCTC) is the e-ticketing arm of the Indian Railways
IRCTC's initial public offer (IPO) - which opened for subscription on Monday - was subscribed 81 per cent on the first day
IRCTC or Indian Railway Catering and Tourism Corporation - the online ticketing arm of the Indian Railways - plans to raise up to Rs 645
crore through the IPO, which will close on Thursday, October 3
The IRCTC IPO is the largest of all the railway offerings so far
There are three other listed entities associated with the Railways: Rail Vikas Nigam, Rail India Technical and Economic Service (RITES) and
Indian Railway Construction Company (IRCON)
IRCTC IPO - Here are 10 things to know about the largest Railways IPO so far:Subscription status: At the end of the first day
That marked a subscription of 81.32 per cent, data from the National Stock Exchange (NSE) showed.Issue size: IRCTC is selling 2.01 crore
will go directly to the selling shareholder
The total share dilution constitutes to about 12.60 per cent of IRCTC's paid-up equity share capital.Reservation: Half of the total shares
on offer are reserved for qualified institutional investors, 35 per cent for retail investors and 15 per cent for non-institutional
The recent tax reduction by the government and the increase in revenue from the service charge for online ticketing will improve IRCTC's
profitability substantially going forward, according to Angel Broking
(Read more)Company profile: State-run IRCTC is the only entity authorised by the Indian Railways to provide catering services to railways,
four business segments: Internet Ticketing, Catering, Packaged Drinking Water and Travel and Tourism.Get Breaking news, live coverage, and
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