IRCTC IPO subscribed three times a day before close: All you need to know

The Rs 638-crore initial public offering (IPO) of state-owned IRCTC has garnered more than three times subscription. 

The issue closes on Thursday. So far, most of the bids have come from retail investors. Market players said they expect huge applications on the last day. 

The price band for the issue is Rs 315-320 per share. At the top end, the company will be valued at Rs 5,120 crore. Through the IPO, the government is looking to divest 12.6 per cent stake as a part of its 2019-20 disinvestment programme. 

IRCTC is the sole entity authorised by the Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.