IRCTC IPO subscribed 33 pc within first few hours on opening day

The initial public offer of Indian Railway Catering And Tourism Corporation (IRCTC) was subscribed 33 percent within the first few hours of opening of bidding on Monday. IRCTC's public offer to raise about Rs 645 crore received bids for more than 67 lakh shares against the total issue size of over 2 crore shares, as per exchanges' data till 1300 hrs.

The price range for the company's initial public offer (IPO) has been fixed at Rs 315-320 per share. The issue comprises an offer for sale of 2.01 crore shares of the face value of Rs 10 each.

Out of the total issue size, 1,60,000 equity shares are reserved for eligible employees. Bidding for the offer of the railways' tourism and catering arm will close on October 3 (Thursday).

Equity markets will be closed on Wednesday on account of "Mahatma Gandhi Jayanti". YES, Securities (India), SBI Capital Markets and IDBI Capital Markets & Securities are the managers to the offer.

(This story has not been edited by Devdiscourse staff and is auto-generated from a syndicated feed.)