Govt successfully prunes stake in IRCTC by 20% as OFS sails through

Retail investors lapped up all the shares in the offer a day after institutional investor portion was subscribed 1.34 times

Retail investors lapped up all the shares in the Indian Railway Catering and Tourism Corporation (IRCTC) offer for sale on Friday. 

A day earlier, the institutional investor portion of the OFS was subscribed 1.34 times. Through the OFS, the Centre has successfully divested 20 per cent stake in the railway ticketing firm. 

The Centre had set the floor price of the OFS at Rs 1,367. However, most bids came around Rs 1,378, data provided stock exchanges show. 

Shares of IRCTC ended at Rs 1,425 on Friday. Following the share sale, the government’s stake in IRCTC will drop to 67.4 per