IRCTC stake sale oversubscribed

PTI

Updated At : 03:52 PM Dec 16, 2022 IST

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New Delhi, December 15

The sale of government’s up to 5% stake in IRCTC got oversubscribed 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% 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% stake, with an option to retain over-subscription of similar amount. As much as 10% of the issue is reserved for retail investors, for whom bidding would open on Friday.

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