IRCTC makes stellar debut, closes at Rs 728

Mumbai, October 14 

In a boost to the divestment process, the shares of Indian Railway Catering & Tourism Corporation (IRCTC) today made a stellar debut on the bourses, zooming 127% to close at Rs 728.60 over the issue price of Rs 320.

This is the first listing of a government-owned entity this fiscal and the IPO received 112 times oversubscription for an issue of Rs 645 crore — the second best in decades.

The mini-ratna firm, a subsidiary of the Railways, made a dream stock market debut listing at Rs 644, a jump of 101.25%, rallied to Rs 743.80 to close at Rs 728.60 on the BSE. The stock did not trade below Rs 625 during the trade. On the NSE, it skyrocketed 95.62% to Rs 626 in opening trade.

This is the best IPO show and also arguably the best debut after Salasar Engineering in July 2017. — PTI