businessUpdated: Sep 30, 2019 10:26 ISTState-run Indian Railway Catering and Tourism Corporation Limited (IRCTC) will launch its initial public offering (IPO) on Monday with a price band of Rs 315-320 per share. The government is offloading more than two crore equity shares or 12.6% stake, which will bring down its stake to 87.4%, though this IPO. The price band of Rs 640 crore IRCTC IPO has been fixed at Rs 315-320 per share but retail investors and eligible employees would be offered a discount of Rs 10 per share. The IRCTC website is one of the most transacted in the Asia-Pacific region, with a volume of more than 25 million a month. Apart from IRCTC, three other Indian Railways entities that have launched IPOs are Rail Vikas Nigam Limited (RVNL), Rail India Technical and Economic Service (RITES) and Indian Railway Construction Company Limited (IRCON).

Source: Hindustan Times September 30, 2019 03:48 UTC