Govt files IPO document for IRCTC with Sebi, plans to offload 12% stake

The Indian Railway Catering and Tourism Corporation (IRCTC), the railways' tourism and catering arm, could get listed as early as this financial year. The centre on Thursday filed IRCTC's draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (Sebi).

Market sources say the government plans to offload around 12 per cent stake through the IPO. The share sale could fetch between Rs 500 crore and Rs 600 crore and help the government with its disinvestment target.

IDBI Capital, SBI Capital Markets and Yes Securities will handle the share sale.

According to the DRHP filed by it, IRCTC is