About IRCTC (Indian Railway Catering and Tourism Corporation)
IRCTC was incorporated on September 27, 1999, as a public limited company. It was conferred the status of Miniratna by the government on May 1, 2008.
It is the only entity authorized by the Indian railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India
IRCTC operates one of the most transacted websites,‘www.irctc.co.in‘ in the Asia-Pacific (APAC) region with transaction volume averaging 15 to 18 million transactions per month during the three months ended June 30.
The company has also diversified into other businesses, including non-railway catering and services such as e-catering, executive lounges and budget hotel.
At present, it operates in four business segments, namely, internet ticketing, catering, packaged drinking water under the “Rail Neer” brand, and travel and tourism.
IRCTC IPO Details
Indian Railway Catering and Tourism Corporation (IRCTC) has filed draft red herring prospectus (DRHP) with markets regulator Securities and Exchange Board of India (SEBI) for its initial public offer.
The railways’ tourism and catering arm plans to issue comprises of 2 crore equity shares of the face value of Rs 10 each through an offer for sale by the government.
It is expected that the IPO size shall be around Rs 500-600 crore and the company’s shares are proposed to be listed on BSE and NSE.
IDBI Capital Markets & Securities, SBI Capital Markets and YES Securities (India) are the book running lead managers to the offer.