IRFC And IRCTC IPO

IRFC engages in selective hedging of its foreign exchange exposure, and even those costs are passed on to the government

The IPO is part of the government's ambitious disinvestment programme that targets raising Rs 1.05 trillion via this route in financial year 2019-20

The state-owned company raised Rs 645 crore through its initial public offer (IPO).

The Rs 640-crore IPO of the state-owned railway ticketing company had garnered over 110 times subscription on an overall basis

The brokerage said that based on the earnings projection for the next financial year, the stock was valued at a price-to-earnings multiple of just 10x

Passengers may have to pay Rs 15 and Rs 30 for non AC classes and AC classes as service charge from September 1

The share sale could fetch between Rs 500 crore and Rs 600 crore and help the government with its disinvestment target

These are part of Centre's plan to list some PSUs for disinvestment target of Rs 72,500 cr for FY18