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IRCTC Share Price: The Government of India is going to sell 5 percent stake in IRCTC, a subsidiary of the Railways. Shares will be sold on Thursday and Friday through offer for sale on stock exchanges. The government has fixed a floor price of Rs 680 per share for selling IRCTC shares.
IRCTC shares will be available at 7% discount!
On Wednesday, IRCTC shares closed at Rs 734.90, up 1.67 per cent. That is, the government is going to sell IRCTC shares to investors at a 7% discount from Wednesday’s closing price. 4 crore shares will be available for bidding in the Offer for Sale. Non-retail investors will be able to participate in the offer for sale on Thursday, 15 December. At the same time, retail investors will be able to bid for the shares on Friday. 25 percent of the offer for sale has been reserved for mutual funds and insurance companies. At the same time, 10 percent quota has been kept in reserve for retail investors.
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IRCTC stock gave 1048% return in 3 years
IRCTC’s IPO came in September 2019, which got a great response from investors. The company came up with an IPO at a price of Rs 320 per share. The stock was listed on the stock exchange on 14 October 2019 and since then IRCTC stock has given a return of 1048 per cent to its investors. IRCTC is the first e-commerce company to be listed on the stock exchange.
The government is continuously reducing the stake
IRCTC is a subsidiary company of Indian Railways, on whose portal passengers traveling by rail can book train tickets. IRCTC also provides catering in trains. Along with this, IRCTC also runs many tourist trains. When the IPO came in 2019, after that the government’s stake came down to 87.40 per cent. After this, the government again sold 20 percent stake, after which at present the Government of India has 67.40 percent stake in IRCTC. After the completion of this offer for sale, the government’s stake will come down to 62.40 per cent. The government is going to sell IRCTC shares through offer for sale to meet the disinvestment target of 2022-23.
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