IRCTC IPO – Should We Subscribe?

The initial public offer (IPO) of state-owned Indian Railway Catering and Tourism Corporation (IRCTC) now open for subscription today, September 30, and had been subscribed 76% a few hours after it opened today

KEY BENEFITS:

• Retail investors applying for IRCTC shares get a discount of ₹10 per share
• The maximum number of IRCTC shares retail investors can bid in this IPO is 640 or 16 lots

KEY DETAILS:

Issue Open Sep 30, 2019 – Oct 3, 2019

 Issue Type Book Built Issue IPO

 Issue Size 20,160,000 Eq Shares of ₹10 

(aggregating up to ₹645.12 Cr)

 Offer for Sale 20,160,000 Eq Shares of ₹10 

(aggregating up to ₹[.] Cr)

 Face Value: ₹10 Per Equity Share

 Issue Price: ₹315 – ₹320 Per Equity Share

 Market Lot; 40 Shares

 Min Order Quantity: 40 Shares

 Listing At BSE, NSE

Overall a good IPO to invest, one must subscribe without fail and returns guaranteed on allotment. Subscription ends on October 3, 2019. hence 2 more days available to subscribe.

Ravi EQS Ratings: 9.5*/10*