About the Company: According to DRHP, the company was incorporated as the dedicated market borrowing arm for the Indian Railways and has played a strategic role in financing the latter's operations.
However, the company has filed a draft prospectus with the Securities and Exchange Board of India for its Initial Public Offering.
Issue Size: The public issue is of up to 140,70,69,000 equity shares of which up to 93,80,46,000 equity shares are a fresh issue, and up to 46,90,23,000 equity shares are offer for sale.
Lead Managers: The book running lead managers are IDFC Securities, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets.
Listing Platforms: The shares of the company are proposed to be listed on the BSE and NSE.
The company said the net proceeds from the offer are proposed to be utilized towards augmenting the company's equity capital base to meet future capital requirements arising out of growth in business and general corporate purposes.
Notably, IRFC had financed 82 percent of the Indian Railway’s total rolling stock for 2018-19, compared with 93 percent in 2017-18 and 72 percent in 2016-17.
Summary of IRCTC IPO: IRCTC IPO was launched on 14th October 2019 with a premium of 101 percent of IRCTC at Rs 727 per share on Indian stock exchanges. The price range of Rs 315-320 per share was kept in this IPO and 1.60 lakh shares were reserved by IRCTC for its employees.
Currently, IRCTC is trading at Rs 983.50 per share, marginally down by 0.99%.