Govt plans to sell 20% Stakes of IRCTC via OFS
IRCTC Share sell will take place on a separate window of the stock exchanges on December 10 and December 11. The base price is set at rs 1367 pert share.
New Delhi, 10/12: The Central Government has proposed to sell up to 15% or rs 2.40 cr shares of the Indian Railways Catering and Tourism Corp(IRCTC), through an Offer for Sale (OFS) which opens for subscription on Thursday.
“Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. Govt. would divest 15 percent equity with a 5 percent greenshoe option” said the Secretary of Department of Investment and Public Asset Management (DIPAM) via Twitter on Wednesday.
It has also proposed an additional share sale of up Rs 80 lakh equity shares of 5% of the paid-up equity share capital, in case of oversubscription. In total, the base offer size and oversubscription option represent 20% of the outstanding equity shares of the company or 3.2 crore shares. The floor price of the offer has been fixed at Rs 1,367 per equity share. IRCTC OFS will help the government inch forward in meeting the Rs 2.10 lakh crore disinvestment target.
The IRCTC share sale will take place on a separate window of the stock exchanges on December 10 and December 11. Only retail investors shall be allowed to place their bids on December 11.
