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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.
| IRCTC IPO Date | Sep 30, 2019 to Oct 3, 2019 |
| IRCTC IPO Face Value | ₹10 per share |
| IRCTC IPO Price | ₹315 to ₹320 per share |
| IRCTC IPO Lot Size | 40 Shares |
| Issue Size | 20,160,000 shares of ₹10 (aggregating up to ₹645.12 Cr) |
| Offer for Sale | 20,160,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Retail Discount | Rs 10 |
| Employee Discount | Rs 10 |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Company Promoters | The President of India acting through the Ministry of Railways is the promoter of the company. |
IRCTC IPO opens on Sep 30, 2019, and closes on Oct 3, 2019. The IRCTC IPO bid date is from Sep 30, 2019 10.00 A.M. to Oct 3, 2019 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 5 PM on the issue closing day.
| Event | Date |
|---|---|
| IRCTC IPO Opening Date | Sep 30, 2019 |
| IRCTC IPO Closing Date | Oct 3, 2019 |
| Basis of Allotment | Oct 9, 2019 |
| Initiation of Refunds | Oct 10, 2019 |
| Credit of Shares to Demat | Oct 11, 2019 |
| IRCTC IPO Listing Date | Oct 14, 2019 |
The IRCTC IPO lot size is 40 shares. A retail-individual investor can apply for up to 15 lots (600 shares or ₹192,000).
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹12,800 |
| Retail (Max) | 15 | 600 | ₹192,000 |
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 87.40% |
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.
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 Oct 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 |
| Listing Date | Monday, October 14, 2019 |
| BSE Script Code | 542830 |
| NSE Symbol | IRCTC |
| Listing In | B Group of Securities |
| ISIN | INE335Y01012 |
| IPO Price | ₹320 per share |
| Face Value | ₹10 per share |
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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: https://www.alankit.com/
IPO Broker Recommendations
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 Sep 30, 2019, and closes on Oct 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 Sep 30, 2019 and closes on Oct 3, 2019.
IRCTC IPO lot size is 40 Shares and the minimum order quantity is .
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, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for IRCTC IPO will be done on Oct 9, 2019, and the allotted shares will be credited to your demat account by Oct 11, 2019. Check the IRCTC IPO allotment status.
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