The government is looking to cut its stake in the Indian Railway Catering and Tourism Corporation (IRCTC) via offer for sale, CNBC-Awaaz reported. The Department of Disinvestment has invited bids for the appointment of merchant bankers and selling brokers.
The pre-bid meeting for the stake sale will be held on September 3, while bids will have to be submitted from September 4-10. The bidding process will begin on September 11.
A Central Public Sector Enterprise (CPSE), IRCTC is the only entity authorised by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.