Friday, January 03, 2025 | 02:28 AM ISTEN Hindi

Home / Companies / News / Centre to sell up to 5% stake in IRCTC via OFS to garner Rs 2,720 crore

Centre to sell up to 5% stake in IRCTC via OFS to garner Rs 2,720 crore

Floor price fixed at Rs 680/share, an over 7% discount to Wednesday closing price

Premium

IRCTC’ profit after tax increased by 42.54 per cent for the second quarter of FY23 at Rs 226 crore against Rs 158.57 crore a year ago

Shrimi Choudhary New Delhi

3 min read Last Updated : Dec 14 2022 | 10:41 PM IST

The central government will sell up to 5 per cent stake in the Indian Railway Catering and Tourism Corporation (IRCTC) through an offer for sale (OFS) on the exchanges on Thursday and Friday.

The floor price for the share sale is set at Rs 680 per share, which is 7.4 per cent lower than the company’s closing price of Rs 734 on Wednesday.

IRCTC is the tourism and catering arm of the Indian Railways. At present, the government owns 67.4 per cent stake in IRCTC.

The stake sale will mop up close to Rs 2,720 crore, offering the government some

Topics : IRCTC Fundraising Indian Railways Stake sale OFS norms Railway Ministry retail investor central government Axis Bank Goldman Sachs

What you get on BS Premium?

Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
Pick your 5 favourite companies, get a daily email with all news updates on them.
Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
Preferential invites to Business Standard events.
Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.

VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in