Home / Markets / News / IRCTC shares tank over 10% as govt begins to offload 20% stake via OFS

IRCTC shares tank over 10% as govt begins to offload 20% stake via OFS

The stock ended at Rs 1,452, down 10.3 per cent. Analysts said the higher than excepted paper supply by the government weighed on sentiment

Premium

Market players were hoping the government will pare its holding only to the extent of 75 per cent

2 min read Last Updated : Dec 11 2020 | 12:20 AM IST

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) plunged more than 10 per cent on Thursday after the government launched a share sale to offload its 20 per cent stake.

The stock ended at Rs 1,452, down 10.3 per cent. Analysts said the higher-than-excepted paper supply by the government weighed on sentiment.

Meanwhile, the 32-million share offering received bids for nearly 43 million shares. Another 3.2 million shares meant for retail investors will be auctioned on Friday.

Most of the bids came in at Rs 1,392. The centre had set the floor price for the offer for sale at

Topics : IRCTC OFS norms

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