Centre appoints four merchant bankers for IRCTC's disinvestment via offer for sale

The tenure of merchant bankers is three years and the disinvestment will take place through Offer For Sale.

Oct 27, 2020 09:10 IST India Infoline News Service

The government has appointed merchant bankers for a period of three years for disinvestment of stake in Indian Railway Catering and Tourism Corporation Ltd (IRCTC) through an offer for sale.

“Department of Investment and Public Asset Management (DIPAM), Ministry of Finance, Government of India vide its letter dated October 23, 2020 (received on October 26, 2020), has appointed the following as Merchant Bankers for a period of three years from the date of issuance of this letter for disinvestment of paid up equity capital of IRCTC through Offer For Sale (OFS),” the company said in a regulatory filing on Monday.

DIPAM appointment as merchant bankers includes llFL Securities Ltd, HSBC Securities and Capital Markets (India) Pvt. Ltd, ICICI Securities Ltd. and Axis Capital Ltd.

At around 09.25 am, IRCTC is trading at Rs1,315.85 down by Rs4.4 or 0.33% from its previous closing of Rs1,320.25 on the BSE.

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