The initial public offering  (IPO) of IRCTC attracted huge demand among investors. On Thursday, IRCTC IPO closed for a subscription get subscribed nearly 112 times. As compared to 2.02 crore shares on offer, investors bid for 225 crore shares of IRCTC. After IPO, the government will hold 87.4 per cent stake in IRCTC.
Alankit Assignments, the registrar of IRCTC IPO, will take care of share allotment and refund process. On 10th October, the allotment of shares of IRCTC IPO, as per the brokerages. IRCTC shares will get listed on both BSE and NSE and the tentative listing date is 14th October.
The retail segment of IRCTC IPO was subscribed nearly 15 times while Qualified Institutional Buyers (QIBs) segment a massive 108.79 times.
The size of the IRCTC IPO was 40 and the price band for retail investors at Rs 305-310 per share (including a discount for retail investors).
There is bumper demand for IRCTC shares having attributed to its monopolistic business nature, attractive valuation of the offer and good dividend pay-out track record of the company. Recently, corporate tax cut and restoration of service charges on ticket bookings also enthused investors.
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