• search
For New-delhi Updates
Allow Notification  

IRCTC IPO set to open on September 30; Price band announcement today


New Delhi, Sep 25: Indian Railway Catering and Tourism Corporation (IRCTC), a state-owned firm which handles ticket-booking and catering for the Indian Railways, is expected to launch its initial public offering (IPO) on September 30.

Representational Image

Reportedly, the government is looking to offload up to 20 million shares in the company through the IRCTC IPO, which will help in raising Rs 500-600 crore. The IPO is likely to cut the government's stake in IRCTC by about 12.5%.

As many as 2 crore equity shares of face value of Rs 10 each would be offered for sale by the government, reports news agency PTI.

Indian Railway Jobs 2019: 149 vacancies, check RRC notification

"We are working to bring IPO of Indian Railway Catering and Tourism Corporation (IRCTC) and IRFC by September. IRFC may have to go to Cabinet again after elections," an official had said.

IRFC raises funds from capital markets and through borrowing for funding expansion plans of the Indian Railways. IRCTC handles the catering and tourism activity of the railways.

While IRCTC IPO could fetch about Rs 500 crore, public offering of IRFC could garner close to Rs 1,000 crore to the government.

For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more