IRCTC OFS

IRCTC OFS: Govt to sell 20% stake in IRCTC via OFS

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IRCTC OFS opens for subscription on 10 December 2020. The government aims for raising ₹ 4,374 crores through this OFS by selling a 20% stake. the floor price is fixed as ₹ 1367. As of 30 September 2020, the government of India held an 87.4% stake in IRCTC. the government revealed its plan to offload its stake in the company In August 2020. the government has to lower its stake in the company to 75% for meeting SEBI’s public holding norms.

Through this OFS, the government has proposed to sell 2.4 crore shares, constituting 15% paid-up share capital of the company, with an option to sell an additional 80 lakh shares or 5% stake in case of demand. Non-retail investors can put their bids on 10/12/2020 and Retail investors can subscribe on 11/12/2020.

IRCTC OFS Details

SymbolIRCTC
Series – Non RetailIS
Series – RetailRS
Number of shares being offered for saleUpto 2,40,00,000 equity shares of Rs 10/- each. (Base Offer Size) and Upto 80,00,000 equity shares (Oversubscription option)
Maximum Bid QuantityUpto 2,40,00,000 equity shares of Rs 10/- each. (Base Offer Size) and Upto 80,00,000 equity shares (Oversubscription option)
Allocation MethodologyPrice priority basis
Name of the Seller (s)The President of India, acting through and represented by Ministry of Railways, Government of India
Name of the broker (s) on behalf the sellerAxis Capital Limited, ICICI Securities Limited, IIFL Securities Limited, HSBC Securities and Capital Markets (I) Pvt. Ltd.
Face Value₹10
ISININE335Y01012
Floor Price₹1367
Date of offer10-Dec-2020 and 11-Dec-2020
Market Lot1 Equity Share
Tick Size₹0.05
ExchangeBSE & NSE
Non Retail Category – Bidding details (IS Series)
Bidding session Date (For IS series)10-Dec-2020
Bidding session Time09:15 AM to 3:30 PM
SeriesIS (Non retail category)
Date to indicate carry forward of unallocated Bids in Non-retail category11-Dec-2020
Carry Forward Timings09:15 AM to 3:30 PM
Retail category Bidding details (RS Series)
Bidding session Date (For RS series)11-Dec-2020
Bidding session Time09:15 AM to 3:30 PM
SeriesRS (Retail category)
Reservation portion for Retail10% of offer size (As per SEBI OFS Guidelines, Retail bids below the cut-off price shall not be eligible for allocation)

Final Thoughts

IRCTC OFS opens for subscription on 10 December 2020. Non-retail investors can put their bids on 10/12/2020 and Retail investors can subscribe on 11/12/2020. Subscribing for the IRCTC OFS is purely your personal choice. make a detailed study and make an investment according to your analysis.

Happy Investing


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