IRCTC Offer For Sale opens today @Rs 1367 per share
Key Features of IRCTC Offer For Sale
- Government to sell upto 20% of stake in Indian Railway Catering and Tourism Corp (IRCTC) which opens for subscription today, on Thursday. For non retail investors, offer for sale would open tomorrow.
- The OFS has a floor price of Rs 1367 per share. IRCTC Offer For Sale opens today @Rs 1367 per share
- Government would divest 15% equity (2.4 crore equity shares) with 5% green shoe option (0.80 crore equity shares).
- The government currently holds 87.40% stake in IRCTC. To meet SEBI’s holding norms, the government has to lower its stake to 75%.
- The share price of IRCTC is currently quoting at Rs 1495 per share (opening price) as on Dec 10, 2020.
- IRCTC IPO was listed at Rs 664 in Sept. 2019 against the listing price of Rs 320 giving hefty returns. It continues to give returns to investors who have invested for long term.
- The OFS gives an opportunity to retail investors for entry into the stock but the pandemic effect has resulted in reduced demand for railways. Due to this the financials could be affected in the near term! Also PSUs comes with the inherent risk of operating inefficiencies so investors may take a call based on their risk appetite.