New Delhi. Indian Railway Catering and Tourism Corporation (IRCTC) has just minutes left to invest in the initial public offering (IPO). IRCTC’s IPO has been a hit among investors. It is subscribed 3.64 times. The IPO is open till 5 pm today. Under the government offer, 2,01,60,000 shares of face value of Rs 10 have been offered. 1,60,000 shares from it are reserved for employees. The government has set a target to raise Rs 635-645 crore through this IPO.
The initial public offering (IPO) of IRCTC opened on Monday yesterday, keeping the base price per share at Rs 315 to 320. IRCTC is a railway entity and the government holds 99.99 percent stake in it. There is only till October 3 to invest in the IPO of IRCTC.
Out of its total 16 crore shares, it is proposed to sell two crore one lakh 60 thousand, out of which one lakh 60 thousand will be reserved for the employees of the company. Common investors will be able to buy the remaining 20 million shares, which is 12.5 percent of the company’s total shares.
The primary market response has been better this year. The brokerage house believes that considering the financial position of the company and better business opportunities ahead, they are advising to invest in IPOs. If you also want to invest in an IPO, then it is important to know these things.
Price band of IRCTC IPO
IRCTC’s IPO has opened at a price band of Rs 315-320 per share. The government is launching 2,01,60,000 shares valued at Rs 10 under the offer in the market. Of these, 1,60,000 shares have been reserved for railway employees. That is, the public will have a chance to buy 2 crore shares of IRCTC.
How to buy IPO of IRCTC
If you want to invest in an IPO of IRCTC, then you can buy it yourself from your demat account. If you are not able to do this yourself, then you can take help of any share broker for this. But you must have a demat account to buy shares of IRCTC. There is a section to purchase IPO on Demat account and brokerage house website. After filling the information here, you can apply for an IPO. In this, you have to give information about the number of shares, price etc. After that the amount is blocked. If your demat account is attached to the bank account then this amount is deducted from the account.