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Govt of Singapore cuts stake in IRCTC, retail holding jumps to nearly 21%

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The Singapore government had held a 1.36 percent stake in IRCTC until September 30, but its name doesn't appear in the updated shareholding filing. Meanwhile, the stake of individuals with capital up to Rs 2 lakh has risen to 20.80 percent from 14.17 percent since September 30.

Govt of Singapore cuts stake in IRCTC, retail holding jumps to nearly 21%
The Indian Railway Catering and Tourism Corporation (IRCTC) on Wednesday released its updated shareholding pattern for the period ended November 5, 2021, in an exchange filing that showed the Government of Singapore Investment Corporation has cut its stake in the company.
The Government of Singapore Investment Corporation had held a 1.36 percent stake until September 30, but its name doesn't appear in the updated shareholding filing. Meanwhile, the stake of individuals with capital up to Rs 2 lakh has risen to 20.80 percent from 14.17 percent since September 30.
The stake of the public sector insurance behemoth, Life Insurance Corporation of India (LIC) stands the same at 2.11 percent from the July-September period.
IRCTC stock started trading ex-split from October 28 with equity shares of Rs 10 face value divided into five equity shares of Rs 2 each. Announced during its first-quarter earnings, the stock split was aimed to make it affordable, boost liquidity in the capital market and widen the shareholder base.
IRCTC stock price settled at Rs 902.85 on NSE, down nearly 2 percent on Wednesday, after opening at Rs 925 apiece. The stock hit the days low and high at Rs 900.10 and Rs 928.70, respectively.
Since listing in October 2019, the state-owned company has returned nearly 480 percent to its investors, while the stock has gained over 212 percent so far this year.
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