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IRCTC share price inches toward Rs 800 mark, rises 146% over issue price

IRCTC share price has risen 146.84% till date compared to its issue price of Rs 320 on BSE.

twitter-logo BusinessToday.In        Last Updated: October 18, 2019  | 13:25 IST
IRCTC share price inches toward Rs 800 mark, rises 146% over issue price
IRCTC share price rose up to 9.04% or 65.55 points to Rs 789.90 against the previous close of Rs 724.35 on BSE.

IRCTC share price opened higher in trade today after a blockbuster debut on BSE and NSE earlier this week.  IRCTC share price rose up to 9.04% or 65.55 points to Rs 789.90 against the previous close of Rs 724.35 on BSE. IRCTC market capitalisation rose to Rs 12,412 crore on BSE today. On NSE, IRCTC rose 6.81% or 49 points to Rs 773.6.

The PSU stock has risen 146.84% till date compared to its issue price of Rs 320 on BSE.

Also read: IRCTC share price nears Rs 750 mark on second day after debut; 134% above issue price

The firm made its market debut on Monday with its stock listing at Rs 644 on BSE and Rs 626 on NSE against the issue price of Rs 320. Against the listing price of Rs 644, the IRCTC stock made an intraday high of Rs 743.80 on both the bourses, with 15.50% intraday gain clocked on the BSE, and 18.80% hike against the listing price on NSE.

IRCTC stock closed 127.69% higher than its issue price at Rs 728.60 on BSE and 129% higher at Rs 727.75 on NSE. The stock ended 13% higher against the listing price of Rs 644 on BSE and 17% higher against the listing price of Rs 626 on NSE that day.

Also read: IRCTC shares end upward rally, decline 2% over profit-booking

Bids for IRCTC shares were invited in a price band of Rs 315 to Rs 320 during the IPO held from September 30 to October 3. The issue involved sale of 2.01 crore equity shares of face value of Rs 10 each in a price band of Rs 315 to Rs 320. The IPO was subscribed nearly 111.80 times on the last day of bidding. The IPO received bids for 225.39 crore shares compared to the issue size of 2.01 crore shares.

The allotment of shares for the initial public offer (IPO) of Indian Railway Catering and Tourism Corporation (IRCTC) was held from October 9 to October 10. IRCTC is engaged in internet ticketing, catering, packaged drinking water and travel and tourism. IRCTC has also diversified into other businesses, including non-railway catering and services such as e-catering, executive lounges and budget hotels.

By Aseem Thapliyal

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