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IRCTC shares jump 6% after OFS concludes

The retail investor's portion of the OFS was fully subscribed, while the institutional investor portion was subscribed 1.34 times.

December 14, 2020 / 02:23 PM IST
 
 
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Shares of IRCTC jumped about 6 percent in intraday trade on BSE on December 14 after its offer for sale (OFS) concluded successfully on December 11.

The Government of India sold 3.2 crore shares, which will raise Rs 4,374 crore for the exchequer starved of funds due to the COVID-19 crisis.

The retail investor's portion of the OFS was fully subscribed, while the institutional investor portion was subscribed 1.34 times.

After the share sale, the government's stake in IRCTC will reduce to 67.4 percent from 87.4 percent earlier.

The floor price for the OFS, which was held on December 10 and 11, was set at Rs 1,367 per share.

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Shares of IRCTC traded 4.48 percent higher at Rs 1,489 on BSE at 1410 hours.
Moneycontrol News
first published: Dec 14, 2020 02:22 pm

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