IRCTC offer for sale over-subscribed 1.56 times

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Indian Railway Catering and Tourism Corporation (IRCTC’s) offer for sale (OFS) has been oversubscribed almost 1.6 times in the last two days. The offer for 3.2 crore shares (including the green shoe option of 80 lakh shares), has received overall bids for 5 crore shares. With this, the Centre would have garnered ₹4,380 crore.

The floor price for the offer was set at ₹1,367 a share.

At present, the Government holds 87.4 per cent stake, which will come down to 67.4 post the issue. For the quarter-ended September 2020, the company reported a revenue of ₹88.56 crore with a net profit of ₹32.64 crore. On Friday, IRCTC shares closed on the NSE at ₹1,424, down 1.96 per cent against the previous close.

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