Points to Remember:
- The Indian Railway Catering and Tourism Corporation (IRCTC) plans to launch its Initial Public Offering (IPO) on September 30.
- Through the IRCTC public offer, the government is reportedly looking to offload up to 20 million shares and raise about Rs. 480 crore, reducing its stake by about 12.5%.
- IRCTC filed the draft red herring prospectus with markets regulator SEBI in August.
- IRCTC’s business is divided into four segments — internet ticketing, catering, packaged drinking water under the ‘Rail Neer’ brand, and travel and tourism.
- The company sees one of the highest traffic on its website in the Asia-Pacific region, with a transaction volume of more than 25 million per month, and 7.2 million logins per day.
- About 800,000 tickets are booked every day through the IRCTC website and Rail Connect.
Indian Railway Catering and Tourism Corporation is a subsidiary of the Indian Railways that handles the catering, tourism and online ticketing operations of the Indian railways.Industry Railways
Headquarters: New Delhi, NCT, India
Area served; India
Products: e-ticketing, offline booking, online booking
Services: Catering, Tourism and Online Ticketing
Parent: Indian Railways
Important Possible questions based on above News:
- What is the name of the Indian Railways subsidiary who is planning to launch its IPO on september 30 2019? IRCTC
- What does IRCTC stands for? Indian Railway Catering and Tourism Corporation