Indian Railway’s IPO to Hit Stock Markets with Rs 635 Crore on Monday

New Delhi, September 28, 2019:

Indian Railways is all set to hit India’s stock markets on coming Monday with its largest Initial Public Offer (IPO), that of the IRCTC worth over Rs 635 crore.

Reportedly, the IPO will open on Monday with a price band of Rs 315-Rs 320 per share taking the issue size to Rs 635.04 to Rs 645.12 cr. Depending on the offer size in terms of amount, it will be the highest among all the railway offerings so far to hit the stock markets.

Till now, Indian Railways has come out with three IPOs of its subsidiaries -- Rail Vikas Nigam Limited (RVNL), Indian Railway Construction Company Limited (IRCON) and Rail India Technical and Economic Service (RITES).

Among these, RVNL’s IPO had highest amount size of Rs 477.11 crore till date.

As per the official reports, all the proceeds of the IRCTC’s IPO will go directly to the selling shareholder from the offer. At present, it operates in four business segments -- Internet Ticketing, Travel and Tourism, Catering, and Packaged Drinking Water.

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