The IRCTC IPO witnessed a bumper subscription — it was subscribed 111.85 times, with strong demand from retail investors. The subscription closed on October 3.
The IPO received bids for 225 crore shares as compared to 2.02 crore on offer, according to provisional data available on exchanges.
Now that the issue is oversubscribed by a huge margin, all eyes will be on the allotment of shares. The allotment is likely by the evening of October 10 or October 11. Given the oversubscription, all applicants are unlikely to get the number of shares they have applied for. In fact, some may not even get allotted any shares.
So, how do you check how many shares you have been allotted? The procedure is simple, as mentioned below:
Most brokerages had recommended ‘subscribe’ recommendation on the IRCTC IPO, given its reasonable valuation and monopoly in the Indian railways. Analysts are expecting the shares to list at around Rs 550 on Monday against the IPO price band of Rs 315-320.
First Published: IST