IRCTC makes blockbuster debut, shoots up by 101% in share trade

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) went up by 101 per cent in its debut trade on Monday (October 14) against its issue price of ₹320.

It listed its shares at ₹644, reflecting a rise of 101.25 per cent as compared to the issue price on the Bombay Stock Exchange (BSE).

On the National Stock Exchange (NSE), it skyrocketed 95.62 per cent to ₹626 in opening trade.

Also read: At ‘attractive valuation’, IRCTC IPO oversubscribed 77 times

The company’s market valuation stood at ₹10,972 crore in the morning trade. The initial public offering (IPO) of IRCTC was a huge hit among investors. The ₹645 crore IPO was in a price range of ₹315-₹320 per share. It was subscribed 111.91 times earlier this month.

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