If you were one of the bidders of the recent IPO (Initial Public Offering) issue of IRCTC (Indian Railway Catering and Tourism Corporation), you must be eagerly waiting to know if you have been allotted shares. The allotment status will likely be out today or on Friday and market experts have forecasted a bumper listing for the stock.
How to check the allotment status of your bid?
- Visit ipo.alankit.com. It is the website of Alankit Assignments, the official registrar for the IRCTC IPO that oversees the allotment and refund process.
- On the website, check the status of your bid by entering either your PAN, bid application number, DPID or Client ID. You can get your DPID from your stockbroker that you hold demat account with. Client ID is your portfolio identification number.
Bumper listing expected
The Rs 645 crore IPO that closed on 3 October was subscribed nearly 112 times, receiving strong demand across investor categories.
Considering the attractive IPO pricing, the company's monopoly in its nature of business and the massive subscription demand, experts said that the IRCTC shares could be listed at a premium that could give its investors 50 to 75 percent returns on the listing day. The stock is scheduled to be listed on BSE and NSE on 14 October.
Some analysts feel that IRCTC could also be a good stock for long-term gains if held for four to five years.
The IPO price band cap was set at Rs 320 with an additional discount of Rs 10 for IRCTC employees and domestic retail investors.
For an offer of 2.02 crore shares, the issue received bids for 225 crore shares. Post the IPO, the government's stake in IRCTC will come down to 87.4 percent.