The allotment is expected by the evening of October 10 or on October 11
Are you one of the bidders in the latest Indian Railway Catering and Tourism Corporation (IRCTC) public issue and are now wondering how to check your allotment status?
Do not worry. Here is all you need to know how to check your allotment status.- The allotment status has been made available from 1 pm today
- Investors can check the status of their bid here: http://ipo.alankit.com
- To check specifics use either PAN, demat account number + client ID (DPID) number or your bid application number
- The client ID is your portfolio identification number
- The process is being overseen by Alankit Assignments, which is the registrar of IRCTC IPO
- It will also deal with the refund process
The Rs 645-crore public issue was oversubscribed more than 111 times. The IPO received bids for 2,252,943,280 equity shares against the IPO size of 2.016 crore shares, data available on exchanges reveal.
The company is likely to be listed on the stock exchanges on October 14.
IRCTC, a Central Public Sector Enterprise, is 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 result of an asset-light business model, the company has high return ratios with return on capital employed (RoCE) and return on equity of around 25 percent with dividend payouts of more than 40 percent of net profits, over the past two years, higher than the regulatory norm of 30 percent," Motilal Oswal said, adding healthy cash balances (more than the net worth of the company) provides comfort against business uncertainties.IIFL Securities also recommended subscribing to the issue as, given the near term growth potential, it valued the company at 13x FY21E EPS translating in a potential target price of Rs 431 per share, and thus, expects it to witness a healthy listing gain.Get access to India's fastest growing financial subscriptions service Moneycontrol Pro for as little as Rs 599 for first year. Use the code "GETPRO". Moneycontrol Pro offers you all the information you need for wealth creation including actionable investment ideas, independent research and insights & analysis For more information, check out the Moneycontrol website or mobile app.