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IRCTC fixes price band of Rs 315-320 for Initial Public Offering

Through the IPO, the IRCTC will be offloading 12.5 percent stake and it will bring down the government's stake to 87.5 percent.

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Published : Sep 26, 2019, 1:34 PM IST

Mumbai: Online ticketing, tourism and the catering arm of railways, Indian Railway Catering and Tourism Corporation (IRCTC) on Wednesday said it is looking to raise up to Rs 645 crore through an initial public offering (IPO).

The price band of the IPO is fixed at Rs 315 to Rs 320 per equity share.

The issue comprises an offer for sale of 2.01 crore shares of the face value of Rs 10.

Out of the total issue size, 1,60,000 equity shares are reserved for eligible employees.

The issue will open on September 30 and closes on October 3.

"Through the IPO, we are offloading 12.5 percent stake and it will bring down the government's stake to 87.5 percent," the company's chairman and managing director, Mahendra Pratap Mall told reporters.

After RITES, Rail Vikas Nigam and Ircon, IRCTC is the fourth public offering from a Railway company.

The company will not receive any proceeds from the offer and all proceeds will go to the selling shareholder, which is the government.

The book running lead managers to the offer are IDBI Capital Markets & Securities, SBI Capital Markets and YES Securities (India).

Read more: Mukesh Ambani richest Indian with a net worth of Rs 3,80,700 crore: Report

Mumbai: Online ticketing, tourism and the catering arm of railways, Indian Railway Catering and Tourism Corporation (IRCTC) on Wednesday said it is looking to raise up to Rs 645 crore through an initial public offering (IPO).

The price band of the IPO is fixed at Rs 315 to Rs 320 per equity share.

The issue comprises an offer for sale of 2.01 crore shares of the face value of Rs 10.

Out of the total issue size, 1,60,000 equity shares are reserved for eligible employees.

The issue will open on September 30 and closes on October 3.

"Through the IPO, we are offloading 12.5 percent stake and it will bring down the government's stake to 87.5 percent," the company's chairman and managing director, Mahendra Pratap Mall told reporters.

After RITES, Rail Vikas Nigam and Ircon, IRCTC is the fourth public offering from a Railway company.

The company will not receive any proceeds from the offer and all proceeds will go to the selling shareholder, which is the government.

The book running lead managers to the offer are IDBI Capital Markets & Securities, SBI Capital Markets and YES Securities (India).

Read more: Mukesh Ambani richest Indian with a net worth of Rs 3,80,700 crore: Report

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IRCTC fixes price band of Rs 315-320 for IPO
         Mumbai, Sep 25 (PTI) Online ticketing, tourism and
the catering arm of railways, Indian Railway Catering and
Tourism Corporation (IRCTC) on Wednesday said it is looking to
raise up to Rs 645 crore through an initial public offering
(IPO).
         The price band of the IPO is fixed at Rs 315 to Rs 320
per equity share.
         The issue comprises an offer for sale of 2.01 crore
shares of the face value of Rs 10.
         Out of the total issue size, 1,60,000 equity shares
are reserved for eligible employees.
         The issue will open on September 30 and closes on
October 3.
         "Through the IPO, we are offloading 12.5 per cent
stake and it will bring down the government's stake to 87.5
per cent," the company's chairman and managing director,
Mahendra Pratap Mall told reporters.
         The company will not receive any proceeds from the
offer and all proceeds will go to the selling shareholder,
which is the government.
         The book running lead managers to the offer are IDBI
Capital Markets & Securities SBI Capital Markets and YES
Securities (India). PTI HV
AP
AP
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