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IRCTC IPO is a book build issue of ₹637.97 crores. The issue is entirely an offer for sale of 2.02 crore shares of ₹637.97 crore.
IRCTC IPO bidding started from Sep 30, 2019 and ended on Oct 3, 2019. The allotment for IRCTC IPO was finalized on Oct 9, 2019. The shares got listed on BSE, NSE on Oct 14, 2019.
IRCTC IPO price band is set at ₹320.00 per share . The lot size for an application is 40. The minimum amount of investment required by an retail is ₹12,600 (40 shares). The lot size investment for sNII is 16 lots (640 shares), amounting to ₹2,04,800, and for bNII, it is 79 lots (3,160 shares), amounting to ₹10,11,200.
The issue includes a reservation of up to 1,60,000 shares for employees offered at a discount of ₹10.00 to the issue price.
IDBI Capital Markets Services Ltd. is the book running lead manager and Alankit Assignments Ltd. is the registrar of the issue.
| IPO Date | September 30, 2019 to October 3, 2019 |
| Listing Date | October 14, 2019 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹315 to ₹320 per share |
| Issue Price Final | ₹320 per share |
| Lot Size | 40 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 2,01,60,000 shares (aggregating up to ₹637.97 Cr) |
| Retail Discount | Rs 10.00 per share |
| Employee Discount | ₹10.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 16,00,00,000 shares |
| Share Holding Post Issue | 16,00,00,000 shares |
IRCTC IPO offers total 2,01,60,000 shares. Out of which 1,00,00,000 (49.60%) allocated to QIB, 30,00,000 (14.88%) allocated to NII, 70,00,000 (34.72%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 1,00,00,000 (49.60%) | NA |
| NII (HNI) Shares Offered | 30,00,000 (14.88%) | NA |
| Retail Shares Offered | 70,00,000 (34.72%) | 1,75,000 |
| Employee Shares Offered | 1,60,000 (0.79%) | NA |
| Total Shares Offered | 2,01,60,000 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
IRCTC IPO opens on September 30, 2019, and closes on October 3, 2019.
| IPO Open Date | Mon, Sep 30, 2019 |
| IPO Close Date | Thu, Oct 3, 2019 |
| Tentative Allotment | Wed, Oct 9, 2019 |
| Initiation of Refunds | Thu, Oct 10, 2019 |
| Credit of Shares to Demat | Fri, Oct 11, 2019 |
| Tentative Listing Date | Mon, Oct 14, 2019 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Oct 3, 2019 |
Investors can bid for a minimum of 40 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 40 | ₹12,800 |
| Retail (Max) | 15 | 600 | ₹1,92,000 |
| S-HNI (Min) | 16 | 640 | ₹2,04,800 |
| S-HNI (Max) | 78 | 3,120 | ₹9,98,400 |
| B-HNI (Min) | 79 | 3,160 | ₹10,11,200 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1999, state-owned Indian Railway Catering and Tourism Corporation Limited (IRCTC) is a wholly-owned subsidiary of Indian Railways. IRCTC handles tourism, catering, online ticket booking services and provides packaged drinking water in trains and at railway stations in the country. It was conferred as a Mini-Ratna or Category-I Public Sector Enterprise by the Indian Government in 2008.
The company website (www.irctc.co.in) is one of the most transacted websites in the Asia-Pacific region. As on 31st Aug 2019, around 1.40 million travelled on Indian Railways and more than 0.84 million passengers booked ticket online through the IRCTC website and mobile app on a daily basis. In the last three months ended on 30th June, nearly 15 to 18 million transactions were placed per month through the website.
IRCTC launched i-Pay payment gateway to manage domestic debit/credit transactions in October 2018. The company is working on technical capabilities and operational utility of the gateway to use it in additional market segments.
IRCTC also provides non-railway services including budget hotels, e-catering and executive lounges to create a one-stop solution for customers. Currently, the company operates majorly in four segments which are:
1. Travel and Tourism
IRCTC is specialised in rail tourism. It offers travel and tourism services across diversified segments such as air, land, rail, & cruise tour packages, hotel bookings and air ticket bookings.
2. Packaged Drinking Water
It is an authorized manufacturer and distributor of packaged drinking water on trains and at railway stations. The company manufactures packaged drinking water under brand name Rail Neer.
3. Catering Services
The company provides food catering services including on-board catering (through mobile) on trains and static catering services at stations.
4. Internet Ticketing
IRCTC has a mobile app (Rail Connect) and a dedicated website to offer online railway ticket booking facility.
Competitive Strengths
| Particulars | For the year/period ended (in Rs. 10 Lakhs) | |||
|---|---|---|---|---|
| 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | ||
| Total Assets | 25,837.80 | 23,191.06 | 18,264.54 | |
| Total Revenue | 19,566.60 | 15,695.60 | 16,028.50 | |
| Profit After Tax | 2,725.95 | 2,206.19 | 2,290.81 | |
The objects of the Offer are:
1. To carry out the disinvestment of Equity Shares by the Selling Shareholder constituting Company's paid up Equity Share capital; and
2. To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
[Dilip Davda] The company enjoys virtual monopolistic business that is poised for bright prospects going forward. Although issue appears fully priced on the basis of financial parameters, investors may consider investment for medium to long term as the company is poised to create fancy being the first mover in the segment. (Subscribe). Read detail review...
As per the RHP Page No 308 this offer is under Phase II of UPI.
IPO UPI Phase II Definition: This phase has commenced with effect from July 1, 2019 and will continue for a period of three months or floating of five main board public issues, whichever is later.
Under this phase, submission of the ASBA Form by a Retail Individual Bidder through intermediaries to SCSBs for blocking of funds has been discontinued and has been replaced by the UPI Mechanism. However, the time duration from public issue closure to listing continues to be six Working Days during this phase.
| Listing Date | October 14, 2019 |
| BSE Script Code | 542830 |
| NSE Symbol | IRCTC |
| ISIN | INE335Y01012 |
| Final Issue Price | ₹320 per share |
| BSE Listing Group | B |
Indian Railway Catering & Tourism Corp.Ltd.
11th Floor, B - 148, Statesman House,
Barakhamba Road,
New Delhi - 110 001, India
New Delhi, New Delhi
Phone: +91 11 2331 1263 / 64
Email: ipo@irctc.com
Website: http://www.irctc.com/
Alankit Assignments Ltd.
Phone: (011) 4254 1234
Email: kamalarora@alankit.com
Website: http://ipo.alankit.com/
IRCTC IPO is a main-board IPO of 2,01,60,000 equity shares of the face value of ₹10 aggregating up to ₹637.97 Crores. The issue is priced at ₹320 per share. The minimum order quantity is 40.
The IPO opens on September 30, 2019, and closes on October 3, 2019.
Alankit Assignments Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in IRCTC IPO using UPI as a payment gateway. Zerodha customers can apply in IRCTC IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IRCTC IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IRCTC IPO opens on September 30, 2019 and closes on October 3, 2019.
IRCTC IPO lot size is 40, and the minimum amount required for application is ₹12,800.
You can apply in IRCTC IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for IRCTC IPO will be done on Wednesday, October 9, 2019, and the allotted shares will be credited to your demat account by Friday, October 11, 2019. Check the IRCTC IPO allotment status.
The IRCTC IPO listing date is on Monday, October 14, 2019.
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