<b>Street signs: </b> Bankers scramble for IRCTC mandate

Investment bankers are scrambling to grab the mandate for the proposed initial public offering (IPO) of Indian Railway Catering and Tourism Corporation (IRCTC), which sells railway tickets online. Last week, the government had invited bankers to make presentations, which saw participation of both foreign and domestic banks. “The issue could generate a lot of foreign investor interest due to the company's strong position in the domestic e-commerce space,” said a banker, explaining their interest around the IPO. The high interest could lead to fierce bidding among bankers and see them quote low fees. The finance minister had said in his