Govt’s share sale in IRCTC over-subscribed, investors bid for Rs 3,800 cr
The sale of government’s up to 5 per cent stake in IRCTC got over-subscribed on the first day of the offer, with institutional investors putting in bids worth Rs 3,800 crore.
In the two-day offer-for-sale (OFS), the government is selling 4 crore shares or 5 per cent stake in Indian Railway Catering and Tourism Corporation (IRCTC) at a floor price of Rs 680 a share.
The OFS consists of base issue size of 2 crore shares or 2.5 per cent stake, with an option to retain over-subscription of similar amount.
As much as 10 per cent of the issue is reserved for retail investors, for whom bidding would open on Friday.
