A first for Indian Railways: IRCTC to come up with IPO.
Indian Railway Catering and Tourism Corporation (IRCTC) has filed Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an IPO (Initial Public Offer). The IPO is estimated to be worth about Rs 500-600 crore.
Online ticketing giant IRCTC is looking ifr a $1 Billion valuations. IRCTC has filed draft papers for its initial public offering (IPO) with the SEBI.
Railway convenience charges are back, mainly before the IRCTC IPO to make it profitable before stake sell, fail deal. Then why don’t let PG companies charge in large retail format who have a turnover of more than 50 crores. Indian Railway Catering and Tourism Corporation (IRCTC) has filed draft papers with market regulator SEBI for its initial public offer. Nice to see a government organization declaring profit as their motive and hence willing to treat service user customer.
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Central Government has directed Indian Railway Ministry to allow IRCTC to bring back service charge on online ticketing, as it plans to come out with IPO of its tourism and catering arm.
While shopping at MRP and foot massage on the train would be a product to enjoy, wonder how a government department will be able to re-orient itself in new direction and walk on an untrodden path.
The government is targeting to raise about Rs 1,500 crore from IPOs (Initial Public Offerings) of two railway companies – IRCTC (Indian Railway Catering and Tourism Corporation) and IRFC (Indian Railway Finance Corporation) – by September, an official said.
Market sources say the govt plans to offload around 12% stake through the IPO.The share sale will help the govt with its disinvestment target.
The IRCTC, which handles the sale of the tickets and manages the catering service, is going to dis-invest 12.5% of its stake in the company by selling 20 million shares. This could fetch the company around an estimated amount of ₹ 500-600 crore.
The government is targeting to raise about Rs 1,500 crore from initial public offerings (IPOs) of two railway companies IRCTC and IRFC by September 2019.
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Indian Railway Catering and Tourism Corporation (IRCTC) has filed draft papers with the markets regulator Securities and Exchange Board of India (Sebi) for its initial public offer.
The issue comprises of 2 crore equity shares of face value of Rs 10 each. The IPO size is expected to be around Rs 500-600 crore.
The big demonetization sops for rail travelers on booking of online train tickets are set to end on September 1.Ahead of its IPO, IRCTC is planning to reintroduce convenience fee of Rs 15 and Rs 30 on the passengers for the booking railway tickets online for non AC classes and AC classes, respectively. IRCTC do not allow booking of RETURN ticket and hence charging for “To” and “Fro” separately is certainly not justified.It is high time for IRCTC to allow booking of RETURN ticket.