Shares of Indian Railways Catering and Tourism Corporation (IRCTC) made a strong debut on the Bombay Stock Exchange and National Stock Exchange on Monday with shares listing at more than double its issue price.
Commenting on the stellar performance of Indian Railways 'Mini Ratna', Union Railway Minister Piyush Goyal said the immense support shown by investors has resulted in unprecedented listing of the IRCTC.
"The immense faith and support shown by investors is a testament to 'Make in India', which has resulted in the unprecedented and blockbuster listing of the IRCTC IPO," Goyal said.
Indian Railways Serving Every Indian: The immense faith & support shown by investors is a testament to 'Make in India', which has resulted in the unprecedented & blockbuster listing of the IRCTC IPO.
This will provide a boost to the Indian Railways & country's economic growth.- Piyush Goyal (@PiyushGoyal) October 14, 2019
This will provide a boost to the Indian Railways and the country's economic growth, he added.
IRCTC's shares have given more than 100 per cent profit to its shareholders on its listing date as they got listed at Rs 644 on BSE, a 101.25 premium over issue price of Rs 320. On NSE, the PSU share listed at Rs 626, soaring nearly 100 per cent over its issue price.
Extending early morning gains, the scrip ended at 127.69 per cent higher at Rs 728.60 on the BSE.
IRCTC IPO, that zoomed 128 per cent on the debut, was the second-best listing in recent times after D-Mart, which was listed in March 2017.
The Rs 645-crore initial public offering (IPO) of IRCTC, which was open for subscription between September 30-October 4, was subscribed almost 112 times. The price band for IRCTC shares were fixed at Rs 315-320.
Edited by Chitranjan Kumar