Bookbuilding IPO | ₹638 Cr | Listed at BSE, NSE | Mon, Sep 30, 2019 - Thu, Oct 3, 2019
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 per share. The lot size for an application is 40. The minimum amount of investment required by an retail is ₹12,800 (40 shares) (based on upper price). 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.
Refer to IRCTC IPO DRHP for detailed Information.
IPO Open
Mon, Sep 30, 2019
IPO Close
Thu, Oct 3, 2019
Issue Price
₹320 per share
Market Cap (Pre-IPO)
₹5,120.00 Cr
| IPO Date | 30 Sep to 3 Oct, 2019 |
| Listed on | Mon, Oct 14, 2019 |
| Face Value | ₹10 per share |
| Price Band | ₹315 to ₹320 |
| Issue Price | ₹320 per share |
| Lot Size | 40 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 10.00 per share |
| Employee Discount | ₹10.00 |
| Total Issue Size | 2,01,60,000 shares (agg. up to ₹638 Cr) |
| Offer for Sale | 2,01,60,000 shares of ₹10 (agg. up to ₹638 Cr) |
| Share Holding Pre Issue | 16,00,00,000 shares |
| Share Holding Post Issue | 16,00,00,000 shares |
| BSE Script Code / NSE Symbol | 542830 / IRCTC |
| ISIN | INE335Y01012 |
IRCTC IPO comprises a total issue size of 2,01,60,000 shares. The net offer to the public is 2,00,00,000 shares, after excluding 1,60,000 shares under a preferential allotment. Of the Net offer 1,00,00,000 (50.00%) are allocated to QIB, 30,00,000 (15.00%) allocated to NII 70,00,000 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 1,00,00,000 | 50.00% | 49.60% | NA |
| NII (HNI) Shares Offered | 30,00,000 | 15.00% | 14.88% | NA |
| Retail Shares Offered | 70,00,000 | 35.00% | 34.72% | 1,75,000 |
| Preferential Reservations | ||||
| Employee Shares Offered | 1,60,000 | 0.79% | NA | |
| Total Shares Offered | 2,01,60,000 | 100.00% | 100.00% | |
Investors can bid for a minimum of 40 shares and in multiples thereof.
| 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 |
| 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 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The IRCTC IPO is subscribed 111.91 times on October 3, 2019 6:49:03 PM (Day 3). The public issue subscribed 14.83 times in the retail category, 108.79 times in the QIB category, and 354.52 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 108.79 | 1,00,00,000 | 1,08,78,87,320 |
| NII | 354.52 | 30,00,000 | 1,06,35,68,360 |
| Retail | 14.83 | 70,00,000 | 10,37,87,680 |
| Employee | 5.81 | 1,60,000 | 9,29,560 |
| Total | 111.91 | 2,01,60,000 | 2,25,61,72,920 |
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.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to BRLMs (including underwriting commission, printing and stationary expenses) | 3.75 |
| 2 | Commission and processing fees for SCSBs and Bankers to the Issue and fee payable to the Sponsor Bank for Bids made by RIBs using UPI. | 1.18 |
| 3 | Brokerage and selling commission and bidding charges for Members of the Syndicate, Registered Brokers, RTAs and CDPs. | 0.02 |
| 4 | Fees payable to the Registrar to the Offer. | |
| 5 | Advertising and marketing expenses. | 7.74 |
| 6 | Others: Listing fee | 0.01 |
| 7 | SEBI filing fee, Stock Exchanges processing fee and book building software fees | 1.71 |
| 8 | Fees payable to Legal Counsels | 0.99 |
| 9 | Miscellaneous | 1.27 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹320.00 | ₹320.00 |
| Open | ₹644.00 | ₹626.00 |
| Low | ₹625.00 | ₹625.00 |
| High | ₹743.80 | ₹743.80 |
| Last Trade | ₹728.60 | ₹727.75 |
IRCTC IPO is a main-board IPO of 2,01,60,000 equity shares of the face value of ₹10 aggregating up to ₹638 Crores. The issue is priced at ₹320 per share. The minimum order quantity is 40.
The IPO opens on Mon, Sep 30, 2019, and closes on Thu, Oct 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 Mon, Sep 30, 2019 and closes on Thu, Oct 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 Fri, Oct 11, 2019. Check the IRCTC IPO allotment status.
The IRCTC IPO listing date is on Mon, Oct 14, 2019.
