IRCTC IPO
IRCTC IPO — date, price band, lot size & details 2019
IRCTC listed on 14 Oct 2019 at ₹626, 95.6% above the ₹320 issue price.
IRCTC is the Ministry of Railways company that is the only entity authorised by Indian Railways to provide catering on trains, online railway tickets and packaged drinking water at stations and on trains. Its total income was Rs 1,956.66 crore in FY2019.
Stock price
IRCTC is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 30 Sep 2019
- Close 03 Oct 2019
- Allotment 09 Oct 2019
- Refund/credit 10 Oct 2019
- Listing 14 Oct 2019
Issue summary
The terms of the offer, as filed.
| IPO Dates | 30 Sep to 3 Oct, 2019 |
|---|---|
| Price Band | ₹315 – ₹320 |
| Face Value | ₹10 |
| Lot Size | 40 Shares |
| Issue Size | ₹637.97 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 10.00 per share |
| Registrar | Alankit Assignments Limited |
| Min Investment | ₹ 12,800 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 40 shares at the ₹320 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 40 | ₹12,800 |
| Retail (max) | 15 | 600 | ₹1,92,000 |
| S-HNI (min) | 16 | 640 | ₹2,04,800 |
| S-HNI (max) | 78 | 3,120 | ₹9,98,400 |
| B-HNI (min) | 79 | 3,160 | ₹10,11,200 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 5
- 01It is the only entity authorised by Indian Railways for online railway tickets, train catering and station drinking water across its 3 core businesses.
- 02Total income rose from Rs 1,602.85 crore in FY2017 to Rs 1,956.66 crore in FY2019.
- 03Profit after tax rose from Rs 220.62 crore in FY2018 to Rs 272.60 crore in FY2019.
- 04EBITDA rose from Rs 319.07 crore in FY2018 to Rs 398.98 crore in FY2019.
- 05Net worth rose from Rs 786.56 crore in FY2017 to Rs 1,042.84 crore in FY2019.
Risks · 5
- 01Its business depends on Indian Railways' policies, such as fees and catering rules; profit fell from Rs 229.08 crore in FY2017 to Rs 220.62 crore in FY2018.
- 02Some of its offices, Rail Neer plants and base kitchens are on land it does not own; total assets were Rs 2,583.78 crore.
- 03A fall in rail traffic or online booking would hit internet ticketing, one of its 3 core businesses.
- 04The whole Rs 637.97 crore issue was an offer for sale, so none of it went to the company.
- 05The government held 100% before the issue and 87.4% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the IRCTC offer document.
| Metric | 31 Mar 2019 | 31 Mar 2018 | 31 Mar 2017 |
|---|---|---|---|
| Assets | 2,583.78 | 2,319.11 | 1,826.45 |
| Total Income | 1,956.66 | 1,569.56 | 1,602.85 |
| Profit After Tax | 272.60 | 220.62 | 229.08 |
| EBITDA | 398.98 | 319.07 | 330.12 |
| NET Worth | 1,042.84 | 954.53 | 786.56 |
| Reserves and Surplus | 882.84 | 914.53 | 746.56 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the IRCTC IPO will be updated shortly.
About the company
It 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 on trains in India.
It sells packaged drinking water under the Rail Neer name and also runs a tourism business.
The IPO was Rs 637.97 crore and was entirely an offer for sale by the Government of India at Rs 320, the top of the Rs 315 to Rs 320 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
IRCTC IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
141 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
IDBI Capital Markets & Securities Ltd.
42 issues handledBest listing: Route Mobile (+104.9%). Weakest: Bharat Dynamics (-13.6%).
YES Securities (India) Ltd
17 issues handledBest listing: Dixon Technologies (India) (+54.3%). Weakest: Bharat Dynamics (-13.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of IRCTC?
The current Grey Market Premium is ₹225, or 70% over the issue price.
What is the IRCTC IPO price band?
₹315 to ₹320, on a face value of ₹10.
When is the allotment?
The basis of allotment is 9 October 2019, with listing on 14 October 2019.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — Alankit Assignments Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
