{"id":1240759,"date":"2022-12-16T12:56:22","date_gmt":"2022-12-16T07:26:22","guid":{"rendered":"https:\/\/trak.in\/stories\/?p=1240759"},"modified":"2022-12-16T12:57:01","modified_gmt":"2022-12-16T07:27:01","slug":"govt-selling-5-of-irctc-to-private-investors-via-ofs-route-4-crore-shares-at-rs-680-share-price-finalized","status":"publish","type":"post","link":"https:\/\/trak.in\/stories\/govt-selling-5-of-irctc-to-private-investors-via-ofs-route-4-crore-shares-at-rs-680-share-price-finalized\/","title":{"rendered":"Govt Selling 5% Of IRCTC To Private Investors Via OFS Route: 4 Crore Shares At Rs 680\/Share Price Finalized"},"content":{"rendered":"\n<p>The online ticket booking platform Indian Railway Catering and Tourism Corporation (IRCTC) announced late on Wednesday that its promoter, the central government, has decided to sell up to a 5% stake in the company.<\/p>\n\n\n\n<figure class=\"wp-block-image size-large\"><img loading=\"lazy\" decoding=\"async\" width=\"1024\" height=\"576\" src=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2022\/12\/Untitled-design-13-3-1280x720-1-1024x576.jpeg\" alt=\"Govt Selling 5% Of IRCTC To Private Investors Via OFS Route: 4 Crore Shares At Rs 680\/Share Price Finalized\" class=\"wp-image-1240765\" srcset=\"https:\/\/trak.in\/stories\/wp-content\/uploads\/2022\/12\/Untitled-design-13-3-1280x720-1-1024x576.jpeg 1024w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2022\/12\/Untitled-design-13-3-1280x720-1-300x169.jpeg 300w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2022\/12\/Untitled-design-13-3-1280x720-1-768x432.jpeg 768w, https:\/\/trak.in\/stories\/wp-content\/uploads\/2022\/12\/Untitled-design-13-3-1280x720-1.jpeg 1280w\" sizes=\"auto, (max-width: 1024px) 100vw, 1024px\" \/><\/figure>\n\n\n\n<p>The government has chosen the offer for sale or OFS route for the sale.<\/p>\n\n\n\n<p>IRCTC has announced that the floor price of the OFS has been fixed at Rs 680 per equity share, which is almost 7.5% lesser than the company\u2019s closing share price on Wednesday.<\/p>\n\n\n\n<p>The seller, which is the government, has proposed to offload not more than 2 crore equity shares of IRCTC, which represents 2.5% of the total issued and paid up equity share capital of the company, the filing stated.<\/p>\n\n\n\n<p>The government will also have the option to sell an additional 2 crore equity shares of IRCTC, representing another 2.5% of the equity share capital of the company. This is called the \u2018oversubscription option\u2019.<\/p>\n\n\n\n<p>In total, the promoter will collectively offer <a href=\"https:\/\/www.moneycontrol.com\/news\/companies-2\/govt-to-sell-2-5-stake-in-irctc-via-ofs-floor-price-set-at-rs-680-per-share-9706481.html\">4 crore equity shares of IRCTC<\/a> at a floor price of Rs 680\/share, likely to generate Rs 2,720 crore for the exchequer.<\/p>\n\n\n\n<p>The brokers for the sale deal will be conducted by Axis Capital, Citigroup Global Markets, Goldman Sachs and JM Financial.<\/p>\n\n\n\n<p>According to the filing, non-retail investors will be able to subscribe for the OFS on December 15, 2022 or \u2018T\u2019 day, and retail investors will be able to do that on December 16,2022, i.e., \u2018T+1\u2019 day.<\/p>\n\n\n\n<p>Retail investors means an individual investor who places bids for Offer Shares of total value of not more than Rs 2 lakh, read the exchange filing.<\/p>\n\n\n\n<p>The stock exchanges will decide the quantity of offer shares eligible to be considered in the Retail Category, based on the floor price declared by the seller.<\/p>\n\n\n\n<p>\u201cFor the bids received on T+l Day from non-Retail Investors who choose to carry forward their unallotted bids to T+l day with 100% of the order value deposited upfront, the settlement shall take place on T+2 Day,\u201d the filing noted.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The online ticket booking platform Indian Railway Catering and Tourism Corporation (IRCTC) announced late on Wednesday that its promoter, the central government, has decided to sell up to a 5% stake in the company. The government has chosen the offer for sale or OFS route for the sale. IRCTC has announced that the floor price [&hellip;]<\/p>\n","protected":false},"author":31,"featured_media":1240765,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[135],"tags":[136,213],"class_list":["post-1240759","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-indian-railways","tag-indian-railways","tag-irctc"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v25.9 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Govt Selling 5% Of IRCTC To Private Investors Via OFS Route: 4 Crore Shares At Rs 680\/Share Price Finalized - Trak.in - Indian Business of Tech, Mobile &amp; Startups<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/trak.in\/stories\/govt-selling-5-of-irctc-to-private-investors-via-ofs-route-4-crore-shares-at-rs-680-share-price-finalized\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Govt Selling 5% Of IRCTC To Private Investors Via OFS Route: 4 Crore Shares At Rs 680\/Share Price Finalized - Trak.in - Indian Business of Tech, Mobile &amp; Startups\" \/>\n<meta property=\"og:description\" content=\"The online ticket booking platform Indian Railway Catering and Tourism Corporation (IRCTC) announced late on Wednesday that its promoter, the central government, has decided to sell up to a 5% stake in the company. 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