IRCTC files draft papers with SEBI for IPO

The company's shares are proposed to be listed on BSE and NSE.

Aug 23, 2019 04:08 IST India Infoline News Service

Indian Railway Catering and Tourism Corporation (IRCTC) has filed a draft red herring prospectus dated August 21, 2019, with the Securities and Exchange Board of India. The IPO is by way of an offer for sale by the President of India (acting through the Ministry of Railways, Government of India) of 20,000,000 equity shares, and a reservation of additional equity shares in favour of employees of IRCTC.

The company's shares are proposed to be listed on BSE and NSE. The IPO is estimated to be worth about Rs500-600cr, as per media reports added.

The book running lead managers to the offer are IDBI Capital Markets & Securities Limited, SBI Capital Markets Limited, YES Securities (India) Limited. 

IRCTC the only entity authorized by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. The Company was incorporated with the objective to upgrade, modernize and professionalize catering and hospitality services, managing hospitality services at railway stations, on trains and other locations and to promote international and domestic tourism in India through public-private participation. The Company has conferred the status of Mini – Ratna (Category-I Public Sector Enterprise) by the Government of India, on May 1, 2008.

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