IRCTC IPO is closed on 3rd Oct’19 and is oversubscribed by 111.95 times on a positive note with a strong 14.95x subscription figure from Retail Segment, the IPO was of Rs. 645 Crore.
Final Day Subscription Figures :
- QIB – 108.79 Times
- NII – 354.52 Times
- RII – 14.93 Times
- Employee – 5.84 Times
- Total – 111.95 Times
Price Band was Rs. 315-320 per share
Out of the total issue size 1,60,000 equity shares were reserved for eligible employees.
There was a 10% discount for Employee and retail investors.
With this Government share is reduced to 87.40%.
Given IRCTC’s strong earnings, attractive valuations, asset light business model, big customer base and healthy dividend payouts, all brokerages recommended investors to subscribe to the IPO.
The issue was priced at a P/E of 19x and the company is likely to benefit from :
- Monopoly Business,
- Significant growth figures
- An good business model with healthy dividend track records,.
The GMP as on 03rd Oct’2019 has reached to Rs. 201 Per Share due to high subscription figure.
Further details regarding IPO can be reached at IRCTC IPO