New Delhi: Indian Railway Catering and Tourism Corporation ie IRCTC is also preparing for privatization. According to CNBC Awaaz report, the government can sell its stake in IRCTC through the offer of sales. For this, bids have been called for the appointment of merchant bankers and selling bankers by the Department of Disinvestment. According to reports, a high-level meeting may be held on September 3 for this. Currently, the government holds more than 80 per cent stake in IRCTC.
Since this news, the stock of IRCTC has fallen by more than 2% today. Today the stock fell to Rs. 1332, while on Wednesday it had closed at Rs. 1362. The 52-week high of the stock is Rs 1994. Explain that under the offer of sales, an existing company can sell its shares only through the exchange platform. At least 25 per cent of the shares in the offer of sales are safe for institutional investors such as mutual funds and insurance companies. The bidding process can begin from 11 September.
