IRCTC IPO a huge hit among investors, subscribed 112 times on final day of bidding; receives bids for 225 cr shares

The initial public offering of Indian Railway Catering and Tourism Corporation (IRCTC) was a huge hit among investors as it got subscribed 111.91 times on the final day of bidding on Thursday

Press Trust of India October 03, 2019 19:49:05 IST
IRCTC IPO a huge hit among investors, subscribed 112 times on final day of bidding; receives bids for 225 cr shares
  • The Rs 645-crore IRCTC IPO received bids for 225 crore shares against the total issue size of 2 crore scrips, according to the data available with exchanges till 1845 hours

  • The category meant for qualified institutional buyers (QIBs) was subscribed 108.79 times, non-institutional investors (NIIs) was subscribed 354.52 times and retail investors was subscribed 14.65 times, according to merchant banking sources

  • The IPO was subscribed 3.25 times till the second day of bidding on Tuesday

New Delhi: The initial public offering of Indian Railway Catering and Tourism Corporation (IRCTC) was a huge hit among investors as it got subscribed 111.91 times on the final day of bidding on Thursday.

The Rs 645-crore IPO received bids for 225 crore shares against the total issue size of 2 crore scrips, according to the data available with exchanges till 1845 hours.

The category meant for qualified institutional buyers (QIBs) was subscribed 108.79 times, non-institutional investors (NIIs) was subscribed 354.52 times and retail investors was subscribed 14.65 times, according to merchant banking sources.

IRCTC IPO a huge hit among investors subscribed 112 times on final day of bidding receives bids for 225 cr shares

Representational Image. AFP

Meanwhile, the 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."

The 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 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.

IRCTC is the only entity authorised by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.

Overall, IRCTC has been the best PSU as well as the most successful IPO in the last two fiscals in terms of overall subscription where it leads in the QIB, NII and employee segments, marketmen said.

In retail category, RITES leads the PSU IPO league table.

Updated Date:

also read

LIC IPO opens, here's all you need to know before subscribing to this public issue
Business

LIC IPO opens, here's all you need to know before subscribing to this public issue

LIC IPO News Today - The government aims to generate about Rs 21,000 crore by diluting its 3.5 per cent stake in the insurance behemoth. Also, 10 per cent of the shares are reserved for LIC policyholders, while 0.7 per cent for LIC employees

Delhivery IPO opens today; Check how much times it has been subscribed till now
Business

Delhivery IPO opens today; Check how much times it has been subscribed till now

The portion of the issue reserved for Non- Institutional Investors (NII) has been bid on 0.01 times, while the shares reserved for employees of the company have been booked 0.04 times

LIC IPO Day 3 subscription: Retail portion fully subscribed in first hour of bidding today
Business

LIC IPO Day 3 subscription: Retail portion fully subscribed in first hour of bidding today

As per the data on stock exchanges at 11:36 am on Friday, the Retail Individual Investor category garnered over 7.2 crore bid, as against 6.9 crore shares set aside for the segment