IRCTC stock doubles on listing day
Mumbai: The share price of Indian Railway Catering and Tourism Corporation (IRCTC) more than doubled the wealth of investors on Monday, as the government run entity listed at Rs 644 on the Bombay Stock Exchange (BSE), as against its issue price of Rs 320.
The stock made a high of Rs 743.8 and a low of Rs 625 on the BSE and closed at Rs 728.6 last day.
Speaking at the listing ceremony of IRCTC on the BSE, its CMD, Mahendra Pratap Mall said he was overwhelmed with the response the company received. “We have more than doubled the wealth of investors. This showcases the trust of our customers and stakeholders on the brand called IRCTC and the services it provides.
The investor demand exceeded shares on offer by 112 times, making us the most sought after state-run firm.”
He further added that, “With the company’s diversification plans for future and growing services across categories, IRCTC aims to stand out as a full-service hospitality and tourism brand of India."
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