SME Times News Bureau | 14 Oct, 2019
The Indian Railway Catering and Tourism Corporation made a strong debut
on the exchanges on Monday. The Railway catering company almost doubled
its issue price of Rs 320 during the early trade.
IRCTC on the
BSE, at 12.34 a.m., was up 11.49 per cent at Rs 718 a share after it
touched an intra-day high of Rs 743.80 apiece. The company recently made
its Rs 645-crore initial public offering which was subscribed 112
times.
"It may be best of the returns we have witnessed in
listing gains of recent IPOs. This is a very unique business model in
India that is listed and also very robust numbers in its BS for the last
three years," said Mustafa Nadeem, CEO, Epic Research.
IRCTC is a
state-run company and only entity authorised by Indian Railways to
provide catering services to railways, online railway tickets and
packaged drinking water at railway stations and in Indian trains.
