IRCTC IPO is dated to be listed on 14th October 2019 on NSE and BSE. After getting huge subcription of about 112 times, its time for bumper listing on Monday.
Many analyst, trader and investors across country hoping for 50- 75% returns on listing day itself for IRCTC IPO. The IRCTC shares may list at around Rs 500 to Rs.550.
For long-term gains one can hold the shares for 3-4 years.
Many investors and analyst are comparing IRCTC with huge Success of Avenue Supermarts Limited (D-MART) IPO launched in early march 2017.
The IRCTC IPO will be the fourth public offering from a Railway company after RITES, Rail Vikas Nigam Limited(RVNL) and Ircon International Limited.
IRCTC website www.irctc.co.in, is one of the most transacted websites in the Asia-Pacific region.
The transaction volume is about 2.5 crore per month, and with approximately 0.73 crore logins per day.
It’s been observed 72.60 per cent of the total Indian Railways’ ticket bookings were done online through the company’s website/mobile application during the five months ended August 31, 2019.
IRCTC IPO Offer Details
Indian Railway Catering and Tourism Corporation (IRCTC) launched its initial public offering (IPO) IPO on September 30, 2019.
IRCTC planned to sell 2.01 crore equity shares of face value of Rs. 10 each in the price band of Rs. 315-320 to raise up to Rs. 645 crore.
The lot size of IRCTC IPO was fixed at 40 Or, in other words, bids can be made for a minimum of 40 equity shares and in multiples thereof.
Maximun subscription amount for retail investor was Rs. 2,00,000. The retail investors and employees of IRCTC are being offered a discount of Rs. 10 per share.
IRCTC was incorporated on September 27, 1999 and is a central public sector enterprise wholly owned by the Government of India under the administrative control of the Ministry of Railway.
The firm operates in 4 business segments namely:
- Internet ticketing
- Catering Service
- Packaged drinking water
- Travel and tourism
Due to it’s monopoly in this industry with no peers, IRCTC IPO is seen as best choice for investment.
IRCTC IPO Subscription Details
It was estimated to raise up to Rs. 645 crore from it’s IPO, however the issue had received bids for whopping Rs.72,000 crore.
As compared to 2.02 crore shares on offer from IRCTC in the IPO, investors bid for 225 crore shares. The retail portion was subscribed 14.4 times.
Qualified Institutional Buyers’ (QIBs) portion was subscribed 108.79 times. HNIs’ and employees subscribed 354.5 times and 5.75 times respectively.
After the IPO, the government’s stake in IRCTC will come down to 87.4%.
How to Check Your Allotment Status online?
In order to check your allotment status online, you just need to visit ipo.alankit.com.
You can search your details by enterning the PAN, IPO application number or DPID (Client ID).
Alankit Assignments is the registrar of the IRCTC IPO. They will take care of share allotment and refund processing.
Investors who did not allotted shares can expect the refund on October 10, 2019 (Thursday).
Whereas the credit of shares into their depository account will be done on October 11.
Investors to whom shares got allotted will also recieve an email as well as mobile alert.
You can also contact our support team if you do not know the process for applying for IPO at 0755-4268599.