198% subscribed on the primary day, at this time retail buyers have an opportunity to purchase shares at a reduction

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IRCTC: Indian Railway Catering and Tourism Corporation (IRCTC) Offer for Sale (OFS) has received a resounding response from non-retail investors on the first day. On the first day, almost double the size bids have been received in this category. On the first day, it was subscribed 198 percent. Today, in this OFS, retail investors have the opportunity to buy shares at a discount of around 16 percent. Let me tell you that the floor price of Rs 1367 was kept for the sale offer on Wednesday, while the IRCTC stock closed at Rs 1618 on that day.

Retail investors have a chance today
Department of Investment and Public Assets Management (DIPAM) Secretary Tuheen Kant Pandey said that retail investors will get the opportunity to bid for IRCTC’s Sale Offer (OFS) today on

Retail investors have a chance today
Department of Investment and Public Assets Management (DIPAM) Secretary Tuheen Kant Pandey said that retail investors will get the opportunity to bid for IRCTC’s Sale Offer (OFS) today on 11 December. The government holds an 87.40 percent stake in the company. Under the guidelines of Capital Market Regulator SEBI (SEBI), the government will have to reduce its stake in the company to 75 percent.

The government holds an 87.40 percent stake in the company. Under the guidelines of Capital Market Regulator SEBI (SEBI), the government will have to reduce its stake in the company to 75 percent.

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Chance to buy shares at a discount
The floor price fixed by the government is 16 percent less than the IRCTC closed on Wednesday. That is, investors will get the opportunity to invest with a 16 percent discount. Let me tell you that the shares of the company closed on Wednesday at a price of Rs 1618. A floor price of Rs 1367 has been kept for the sale offer on Wednesday. IRCTC launched its IPO in October 2019. This IPO was taken over by investors and it received tremendous response. Its price band was Rs 320 and in just 4 months it reached the price of Rs 1995. However, it declined during the period of the Corona pandemic.

What is OFS?
OFS is the only way to sell shares. This gives promoters of already-listed companies a way to easily issue shares. This issue is issued only among the existing shareholders. Apart from retail investors, it can be issued to all types of investors including mutual fund investors, foreign institutional investors, insurance companies, corporate, NRIs. Any company that wants to issue OFS has to inform it two days before the issue.

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