Indian Railway Catering and Tourism Corporation (IRCTC) has filed Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an IPO (Initial Public Offer). The IPO is estimated to be worth about Rs 500-600 crore.
- The railways’ tourism and catering arm plans to offload about 2 crore equity shares of the face value of Rs 10 each through an offer for sale by the government.
- IDBI Capital Markets & Securities, SBI Capital Markets and YES Securities (India) are the managers to the offer.
- As per the Draft Red Herring Prospectus (DRHP), IRCTC is the only entity authorised by the Indian railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.
- The CPSE has also diversified into other business segments like e-catering, executive lounges and budget hotels.
- IRCTC operates one of the most transacted websites,‘www.irctc.co.in’, in the Asia-Pacific (APAC) region.
- The company’s shares are proposed to be listed on BSE and NSE.