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IRCTC Shares Triple In Value In Less Than A Month's Time
IRCTC was among the biggest IPO issue from the PSU space and the e-ticketing arm of the Indian Railways also made a record debut on October 14. The issue price for the IPO was fixed at Rs. 310 per share. Now at the close of November 11, the stock of IRCTC quotes at Rs. 932.80 on the BSE, with a surge of 6.33%. On NSE, the stock quotes at Rs. 932.90, surging 6.39% on Monday. The stock has recorded a 52-week high of Rs. 953.65.
Investors during the IPO offer bid for more than 225 crore shares in comparison to 2.02 crore shares on offer, as per data on the National Stock Exchange (NSE) as of 6 pm on Thursday, the last day of the offer. The data showed that the IRCTC IPO received bids worth Rs 72,000 crore at the upper price band when compared to the government's intention to raise Rs 645 crore.
On November 13, the company will report its second quarterly earnings.
Already the first of its private train run by IRCTC has made a profit of Rs. 70 lakh in the first month of its operations.
