Mr. Yash Gupta – Equity Research Associate, Angel Broking Ltd
IRCTC stock down by 7.5% as company announced OFS (Offer for sale) up to 2.40 crores shares with option of additional sell of 0.8 lakhs shares with floor price of Rs1367. Promoter of the company “Ministry of Railways, Government of India” coming up with OFS of 15% of total issued equity share capital, promoter has an option to sell additional 5% so total OFS could be 20% of equity share capital. Company has fixed OFS has cutoff date for Non-retail investor 10th December 2020 and 11th December for Retail investors. 10% of OFS has been reserved for Retail investors and 5% reserved for Employees. Company has fixed the floor price of Rs 1367 for OFS which is down by 8.86% from CMP of 1500.
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