Indian Railway Catering and Tourism Corporation (IRCTC) Listing on BSE and NSE exchange done today. As soon as it is listed on these exchanges, the company’s share price has more than doubled. The issue price of IRCTC shares was kept at Rs 320. After being listed on the Bombay Stock Exchange, the company’s stock remained at Rs 683.25 at 10.30 am. At the same time, the company’s stock on the National Stock Exchange was currently trending at Rs 691.25.
IRCTC Became the most successful listing government company
IRCTC’s stock received bids more than 112 times. The company’s stock is listed at Rs 644 with a premium of 101.25 per cent on the Bombay Stock Exchange. In this way, IRCTC has become the best listing company in the stock market. IRCTC’s MCAP has increased to Rs 10,736 crore after the company was listed on the stock market.
IRCTC’s IPO opened for subscription on 30 September
Significantly, IRCTC’s IPO opened for subscription on 30 September. The issue price for the company’s shares was fixed at Rs 320. Also, a discount of Rs 10 per share was given to retail investors, which cost them Rs 310 a share. Explain that the government was trying to sell 2.01 crore shares, ie 12.6 per cent stake, through the IPO. In lieu of these 2.01 crore shares, bids were received for 25 crore shares.
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The Indian Railway Catering and Tourism Corporation provides services related to railway catering, ticket booking, tourism, and hotel booking. Significantly, there are 72 lakh logins on the company’s ticketing site every day. Talking about the last two financial years, IRCTC has achieved annual growth of 10.3 per cent. It has achieved a revenue of Rs 1,868 crore in FY 2019.
We believe the IRCT listing with great response will help the quality of services offered under this organization. The IRCTC will have significant money to improve their services and pass on the benefit to ordinary citizens travelling via Indian railways every day.
