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IRCTC IPO is a book built issue of Rs 645.12 crores. The issue is entirely an offer for sale of 2.02 crore shares.
IRCTC IPO bidding started from September 30, 2019 and ended on October 3, 2019. The allotment for IRCTC IPO was finalized on Wednesday, October 9, 2019. The shares got listed on BSE, NSE on October 14, 2019.
IRCTC IPO price band is set at ₹315 to ₹320 per share. The minimum lot size for an application is 40 Shares. The minimum amount of investment required by retail investors is ₹12,800.
The issue includes a reservation of up to 160,000 shares for employees offered at a discount of Rs 10 to the issue price.
Idbi Capital Market Services Limited, SBI Capital Markets Limited and Yes Securities (India) Limited are the book running lead managers of the IRCTC IPO, while Alankit Assignments Ltd is the registrar for the issue.
Refer to IRCTC IPO RHP for detailed information.
| IPO Date | September 30, 2019 to October 3, 2019 |
| Listing Date | October 14, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹315 to ₹320 per share |
| Lot Size | 40 Shares |
| Total Issue Size | 20,160,000 shares (aggregating up to ₹645.12 Cr) |
| Offer for Sale | 20,160,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Retail Discount | Rs 10 per share |
| Employee Discount | Rs 10 per share |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
IRCTC IPO offers 20,160,000 shares. 10,000,000 (49.60%) to QIB, 3,000,000 (14.88%) to NII, 7,000,000 (34.72%) to RII, 160,000 (0.79%) to employees. 175,000 RIIs will receive minimum 40 shares and (sNII) and (bNII) will receive minimum 640 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 10,000,000 (49.60%) | NA |
| NII (HNI) Shares Offered | 3,000,000 (14.88%) | |
| Retail Shares Offered | 7,000,000 (34.72%) | 175,000 |
| Employee Shares Offered | 160,000 (0.79%) | NA |
| Total Shares Offered | 20,160,000 (100%) |
IRCTC IPO opens on September 30, 2019, and closes on October 3, 2019.
| IPO Open Date | Monday, September 30, 2019 |
| IPO Close Date | Thursday, October 3, 2019 |
| Basis of Allotment | Wednesday, October 9, 2019 |
| Initiation of Refunds | Thursday, October 10, 2019 |
| Credit of Shares to Demat | Friday, October 11, 2019 |
| Listing Date | Monday, October 14, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 3, 2019 |
Investors can bid for a minimum of 40 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹12,800 |
| Retail (Max) | 15 | 600 | ₹192,000 |
| Lot Size Calculator | |||
The President of India acting through the Ministry of Railways is the promoter of the company.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 87.40% |
Incorporated in 1999, state-owned Indian Railway Catering and Tourism Corporation Limited (IRCTC) is a wholly-owned subsidiary of Indian Railways. IRCTC handles tourism, catering, online ticket booking services and provides packaged drinking water in trains and at railway stations in the country. It was conferred as a Mini-Ratna or Category-I Public Sector Enterprise by the Indian Government in 2008.
The company website (www.irctc.co.in) is one of the most transacted websites in the Asia-Pacific region. As on 31st Aug 2019, around 1.40 million travelled on Indian Railways and more than 0.84 million passengers booked ticket online through the IRCTC website and mobile app on a daily basis. In the last three months ended on 30th June, nearly 15 to 18 million transactions were placed per month through the website.
IRCTC launched i-Pay payment gateway to manage domestic debit/credit transactions in October 2018. The company is working on technical capabilities and operational utility of the gateway to use it in additional market segments.
IRCTC also provides non-railway services including budget hotels, e-catering and executive lounges to create a one-stop solution for customers. Currently, the company operates majorly in four segments which are:
1. Travel and Tourism
IRCTC is specialised in rail tourism. It offers travel and tourism services across diversified segments such as air, land, rail, & cruise tour packages, hotel bookings and air ticket bookings.
2. Packaged Drinking Water
It is an authorized manufacturer and distributor of packaged drinking water on trains and at railway stations. The company manufactures packaged drinking water under brand name Rail Neer.
3. Catering Services
The company provides food catering services including on-board catering (through mobile) on trains and static catering services at stations.
4. Internet Ticketing
IRCTC has a mobile app (Rail Connect) and a dedicated website to offer online railway ticket booking facility.
Competitive Strengths
| Particulars | For the year/period ended (in Rs. 10 Lakhs) | |||
|---|---|---|---|---|
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 25,837.80 | 23,191.06 | 18,264.54 | |
| Total Revenue | 19,566.60 | 15,695.60 | 16,028.50 | |
| Profit After Tax | 2,725.95 | 2,206.19 | 2,290.81 | |
The objects of the Offer are:
1. To carry out the disinvestment of Equity Shares by the Selling Shareholder constituting Company's paid up Equity Share capital; and
2. To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
[Dilip Davda] The company enjoys virtual monopolistic business that is poised for bright prospects going forward. Although issue appears fully priced on the basis of financial parameters, investors may consider investment for medium to long term as the company is poised to create fancy being the first mover in the segment. (Subscribe). Read detail review...
The IRCTC IPO is subscribed 111.91 times on October 3, 2019 6:49:03 PM. The public issue subscribed 14.83 times in the retail category, 108.79 times in the QIB category, and 354.52 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) |
|---|---|
| QIB | 108.79 |
| NII | 354.52 |
| Retail | 14.83 |
| Employee | 5.81 |
| Total | 111.91 |
As per the RHP Page No 308 this offer is under Phase II of UPI.
IPO UPI Phase II Definition: This phase has commenced with effect from July 1, 2019 and will continue for a period of three months or floating of five main board public issues, whichever is later.
Under this phase, submission of the ASBA Form by a Retail Individual Bidder through intermediaries to SCSBs for blocking of funds has been discontinued and has been replaced by the UPI Mechanism. However, the time duration from public issue closure to listing continues to be six Working Days during this phase.
| Listing Date | October 14, 2019 |
| BSE Script Code | 542830 |
| NSE Symbol | IRCTC |
| ISIN | INE335Y01012 |
| Final Issue Price | ₹320 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹320.00 |
| ₹644.00 |
| ₹625.00 |
| ₹743.80 |
| ₹728.60 |
| NSE |
|---|
| ₹320.00 |
| ₹626.00 |
| ₹625.00 |
| ₹743.80 |
| ₹727.75 |
IRCTC Limited
11th Floor, B - 148, Statesman House,
Barakhamba Road,
New Delhi - 110 001, India
Phone: +91 11 2331 1263 / 64
Email: ipo@irctc.com
Website: http://www.irctc.com/
Alankit Assignments Ltd
Phone: (011) 4254 1234
Email: kamalarora@alankit.com
Website: http://ipo.alankit.com/
IRCTC IPO is a main-board IPO of 20,160,000 equity shares of the face value of ₹10 aggregating up to ₹645.12 Crores. The issue is priced at ₹315 to ₹320 per share. The minimum order quantity is 40 Shares.
The IPO opens on September 30, 2019, and closes on October 3, 2019.
Alankit Assignments Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
The IRCTC IPO opens on September 30, 2019 and closes on October 3, 2019.
IRCTC IPO lot size is 40 Shares, and the minimum amount required is ₹12,800.
You can apply in IRCTC IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for IRCTC IPO will be done on Wednesday, October 9, 2019, and the allotted shares will be credited to your demat account by Friday, October 11, 2019. Check the IRCTC IPO allotment status.
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