Shares of IRCTC made their debut on BSE & NSE today on 14 Oct 19 and proved itself one of the best IPO debut in last two years surging to 132%. On the BSE IRCTC Share closed at Rs. 728.60 up 127.6% & on NSE at Rs. 727.75 up 127.1%.
The IRCTC IPO issue was on our top of the list of Upcoming IPO and the stock touched day hight at Rs. 743.80 up 132% from its listing at Rs. 320.
IRCTC IPO Issue Review
The IPO of IRCTC accepted subscription between September 30 to 03 October and subscribed a huge 112 times on average.
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The IPO was subscribed over 15 times in retail category while Qualified Institutional buyers (QIBs) category got subscribed by 115 times and 355 times by non-institutional Investors (NIIs).
IRCTC issue price of the IPO was set to Rs. 320 per share with a lot of 40 Shares with a discounted price of Rs. 310 for retails investors with the face value of Rs. 10 per share.
Company is the forth listed subsidiary by Indian Railway and raised Rs. 645 Crores by issuing an offer-for-sale of 2.01 Crores share of face value of Rs. 10 each.
So, many investors and analysts recommended subscribe to IRCTC IPO issue and indicated is next multibagger.
Merchant Bankers of IRCTC IPO Issue
Yes Securities (India), SBI Capital Markets and IDBI Capital markets were the banking merchants for the IRCTC issue while filing assignments to the registrar. The share of IRCTC allotted on 10 October 2019 & the government stake down its ownership to 87.4% via selling nearly Rs. 644 crores worth of shares.
The stock stepped in at Rs. 644 at over 101% up from its issue price.
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In the last two financial years, IRCTC had achieved 10.3% annual growth, with revenues rising to ₹1,868 crore in current financial year (FY19).
Interacting at the listing ceremony, IRCTC CMD, Mahendra Pratap Mall said: “We have more than doubled the wealth of investors. This showcases the trust of our customers and stakeholders towards the brand IRCTC and the services it provides. The investor demand exceeded shares on offer by 112 times, making IRCTC the most subscribed after state-run firm.”