IRCTC plans to launch IPO on September 30

IRCTC plans to launch IPO on September 30

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.

About IRCTC:

  • 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:
  1. What is the name of the Indian Railways subsidiary who is planning to launch its IPO on september 30 2019? IRCTC
  2. What does IRCTC stands for? Indian Railway Catering and Tourism Corporation

 

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