Market

IRCTC files draft papers with Sebi for Rs 600 crore IPO

Updated : August 23, 2019 08:24 AM IST

Indian Railway Catering and Tourism Corporation (IRCTC) has filed draft papers with markets regulator Sebi for its initial public offer.

According to market sources, the IPO would be worth about Rs 500-600 crore.

As many as 2 crore equity shares of face value of Rs 10 each would be offloaded through an offer for sale by the government.

IRCTC files draft papers with Sebi for Rs 600 crore IPO

Indian Railway Catering and Tourism Corporation (IRCTC) has filed draft papers with markets regulator Sebi for its initial public offer (IPO). As many as 2 crore equity shares of face value of Rs 10 each would be offloaded through an offer for sale by the government. According to market sources, the IRCTC IPO would be worth about Rs 500-600 crore.

IRCTC is the tourism and catering arm of Indian Railways.

IDBI Capital Markets & Securities, SBI Capital Markets and YES Securities (India) are the managers to the IRCTC IPO.

IRCTC is the only entity authorised by the Indian railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India, according to the draft red herring prospectus (DRHP).

The CPSE has also diversified into other business segments like e-catering, executive lounges and budget hotels.

IRCTC operates one of the most transacted websites,‘www.irctc.co.in', in the Asia-Pacific (APAC) region.

The company's shares are proposed to be listed on BSE and NSE.

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