IRCTC stock slips 5% per cent as govt offer-for-sale begins
2 years, 3 months ago

IRCTC stock slips 5% per cent as govt offer-for-sale begins

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The government’s offer-for-sale of up to 5 per cent stake in Indian Railway Catering and Tourism Corporation at a floor price of Rs 680 a share opened for institutional investors on Thursday New Delhi: Shares of IRCTC fell more than 5 per cent in morning trade on the BSE on Thursday as the sale of the government’s up to 5 per cent stake in the company kicked off. The government’s offer-for-sale of up to 5 per cent stake in Indian Railway Catering and Tourism Corporation at a floor price of Rs 680 a share opened for institutional investors on Thursday. The OFS includes a base issue size of 2 crore shares or 2.5 per cent stake, with an option to retain an over-subscription of another 2.5 per cent, taking the total issue size to up to 4 crore shares or 5 per cent stake. The floor price of Rs 680 for OFS is at a discount of more than 7 per cent over Wednesday’s closing price.

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