DAM Capital Advisors Ltd, HSBC Securities and Capital Markets (India) Private Ltd, ICICI Securities Ltd and SBI Capital Markets Ltd are the book running lead managers to the offer

This will be the fifth railways company to hit the Dalal Street since 2017. The four listed ones include IRCON International, RITES, Rail Vikas Nigam and Indian Railway Catering and Tourism Corporation

The government, which currently holds 87.40 per cent stake in IRCTC, has to bring down its shareholding in the company to 75 per cent to meet Sebi's public holding norm

The government currently holds 87.40% stake in IRCTC. To meet Sebi's public holding norm, the government has to lower its stake in the company to 75%

Despite an ambitious target, public expenditure on infrastructure - the only functional engine of the economy - is dwindling. That spells bad news for economic recovery

True extent of central government's off-budget financing is not known. CAG picked some cases for scrutiny in the recent past and found an alarming rise in the magnitude of such financing, which is not only distorting the budget numbers but also poses a serious challenge to fiscal responsibility. Part I of this two-part series looks at the trends and why it should concern all

In line with benchmark indices, SBI share price declined as much as 2.84 per cent to touch an intraday low of Rs 309.25 apiece on the BSE after opening tad lower at Rs 317.45 against previous close level of Rs 318.30

IRCTC IPO is the largest of all four entities offered by the Indian Railways after RITES, Rail Vikas Nigam and Ircon. It has turned out to be most-watched share sale by prospective investors in recent times

IRCTC is expected to raise Rs 500-600 crore through IPO as it plans to offload about two crore equity shares of the face value of Rs 10 each through an offer for sale by the government

While the document does not mention offer size, speculation is rife that it will be in the Rs 500-600 crore range. The issue comprises 2 crore equity shares of face value of Rs 10 each.

The government will appoint up to three merchant bankers to manage the listing process and has invited bids from them by June 11

Share Market Update: RIL, Wipro, Tech Mahindra, ICICI Bank, SpiceJet, Interglobe Aviation, HDFC, HDFC Bank, were the major gainers in the indices, while Jet Airways, Infosys, TCS and Hindalco were among top laggards.

IRFC raises funds from capital markets and through borrowing for funding expansion plans of the Indian Railways and IRCTC handles the catering and tourism activity of the railways

Section 54EC exempts capital gains of up to Rs 50 lakhs arising from the transfer of long term capital assets. This exemption is presently available for long term capital gains arising only from the transfer of land or building or both

Other than convincing the RBI and bankers to back the road projects, Jaitley will also have to work with the central bank to develop financial institutions.