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Last Updated : Aug 22, 2019 10:33 PM IST | Source: PTI

IRCTC files Rs 600-crore IPO papers with Sebi

According to market sources, the IPO would be worth about Rs 500-600 crore.

Indian Railway Catering and Tourism Corporation (IRCTC) has filed draft red herring prospectus (DRHP) with Securities and Exchange Board of India (SEBI) for an initial public offer.

The railways' tourism and catering arm plans to offload about two crore equity shares of the face value of Rs 10 each through an offer for sale by the government.

The IPO is estimated to be worth about Rs 500-600 crore.

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IDBI Capital Markets & Securities, SBI Capital Markets and YES Securities (India) are the managers to the offer.

IRCTC is the only entity authorised by the Indian railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India, according to the draft red herring prospectus (DRHP).

The CPSE has also diversified into other business segments like e-catering, executive lounges and budget hotels.

IRCTC operates one of the most transacted websites,‘www.irctc.co.in', in the Asia-Pacific (APAC) region.

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

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First Published on Aug 22, 2019 03:35 pm
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