Institutional investors led by domestic mutual funds (MFs) and foreign portfolio investors (FPIs) further reduced their stake in Indian Railway Catering and Tourism Corporation (IRCTC) ahead of a stock split.

According to the shareholding pattern dated November 5, 2021, filed by IRCTC on Wednesday, November 17, 2021, MFs’ holding in the state-owned travel support services company fell below the 1 per cent mark at 0.69 per cent. They reduced their stake in IRCTC by 4.09 percentage points between October 1, 2021, and November 5, 2021. MFs held 4.78 per cent at the end of the September quarter (Q2) and a 7.28 per cent stake at the end of the June quarter (Q1), data shows.

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Foreign portfolio investors (FPIs) also reduced their stake in IRCTC by 2.12 percentage points to 5.69 per cent from 7.81 per cent in Q2. They held 8.07 per cent in Q1. However, retail investors accumulated IRCTC shares during the period. Individual shareholders increased their stake in the company by 6.66 percentage points to 20.97 per cent from 14.31 per cent in the previous quarter. Individual shareholders held 11.48 per cent holding in IRCTC in Q1.

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Indian Railway Catering and Tourism Corporation (IRCTC)-View Detailed Analysis