State-owned Indian Railway Catering and Tourism Corporation (IRCTC) receives a huge response for its Rs 645-crore IPO. Subscribed 112 times, it became the most successful share sale in last 20 months.
Highlights of the IPO
- It received bids for 225.6 crore shares while total issue size was of 2.02 crore shares according to NSE
- The best subscribed IPO
- The portions reserved for QIBs and HNI were subscribed 108.8 times and 354.5 times respectively
- Retail and employee portions were subscribed 14.6 times and 5.8 times respectively
What grey market has to say about IRCTC IPO?
Senior search analysts put the grey market premium of the share at Rs 200 and at this price, it can be said that it is value for business. But much depends on the performance of IRCTC. The grey market experts expect the listing of IRCTC IPO to be around Rs 520-525 per share.
What is the advantage of IRCTC IPO?
According to leading brokerage firms like ICICIdirect and Angel Broking, this IPO generated interest in investors because of attractive pricing and monopolistic nature of the company’s business that is online sale of tickets and bottled water in railway stations.
IRCTC has set a price of Rs … Read the rest