After ISRO collaboration, IRCTC now on bullish IPO run

01 Oct 2019 CW Staff

As reported, compared to its issue price of Rs 320 per share, the shares of the Indian Railway Catering and Tourism Corporation (IRCTC) stood listed with a 100 per cent gain on the stock market. With its listing debut on the BSE and NSE, IRCTC recorded a highly successful debut listing as a PSU firm, with BSE witnessing a rise of around 118 per cent to Rs 698. On NSE, at the day’s high they also rose to 698.

The initial public offer (IPO) of IRCTC, open for subscription between September 30 and October 4, was subscribed about 112 times. The issue, reportedly, involved sale of 20.1 million equity shares of face value of Rs 10 each in a price band of Rs 315 to Rs 320. Additionally, the retail category saw subscription around 15 times, whereas the qualified institutional buyers (QIBs) segment got subscribed 109 times and non-institutional investors (NIIs) category 355 times. Retail investors received a discount of Rs 10 per share and hence, the issue price for them was Rs 310.

After the listing, as reported, the market capitalisation of the IRCTC stood at Rs 107.36 billion on the BSE.

The fourth railway company to be listed on the stock market, after RITES, Rail Vikas Nigam and Ircon, the sale of the IRCTC resulted in earnings of nearly Rs 6.50 billion for the government. Presently, its stake is down to 87.4 per cent. The IPO was part of the government’s plan to sell off 12.6 per cent stake of the firm under its divestment programme for FY19-20.

Additionally, Yes Securities (India), SBI Capital Markets and IDBI Capital Markets were the merchant bankers, while Alankit Assignments was the registrar for the issue. It is also reported that all proceeds from the IPO shall go be handed over to the stakeholders and not to the company.

The corporation enjoys monopoly in the field and has also taken up services that include non-railway catering and e-catering amongst other diversification options.

ISRO at Smart Urbanation

Dr. PG Diwakar, Director (as Deputy Head to AP-25), ISRO, recently addressed the delegates at Smart Urbanation, enlightening them about the benefits of Earth Observation Satellite, NavIC and various other space technologies.

After the news of Indian Railways using ISRO (Indian Space Research Organisation) aided system- GAGAN (GPS Aided GEO Augmented Navigation), in the Realtime Train Information System devices for keeping track of train movements and better management of railway traffic, Indian Railways is delivering big in the stock market.As reported, compared to its issue price of Rs 320 per share, the shares of the Indian Railway Catering and Tourism Corporation (IRCTC) stood listed with a 100 per cent gain on the stock market. With its listing debut on the BSE and NSE, IRCTC recorded a highly successful debut listing as a PSU firm, with BSE witnessing a rise of around 118 per cent to Rs 698. On NSE, at the day’s high they also rose to 698. The initial public offer (IPO) of IRCTC, open for subscription between September 30 and October 4, was subscribed about 112 times. The issue, reportedly, involved sale of 20.1 million equity shares of face value of Rs 10 each in a price band of Rs 315 to Rs 320. Additionally, the retail category saw subscription around 15 times, whereas the qualified institutional buyers (QIBs) segment got subscribed 109 times and non-institutional investors (NIIs) category 355 times. Retail investors received a discount of Rs 10 per share and hence, the issue price for them was Rs 310. After the listing, as reported, the market capitalisation of the IRCTC stood at Rs 107.36 billion on the BSE.The fourth railway company to be listed on the stock market, after RITES, Rail Vikas Nigam and Ircon, the sale of the IRCTC resulted in earnings of nearly Rs 6.50 billion for the government. Presently, its stake is down to 87.4 per cent. The IPO was part of the government’s plan to sell off 12.6 per cent stake of the firm under its divestment programme for FY19-20. Additionally, Yes Securities (India), SBI Capital Markets and IDBI Capital Markets were the merchant bankers, while Alankit Assignments was the registrar for the issue. It is also reported that all proceeds from the IPO shall go be handed over to the stakeholders and not to the company. The corporation enjoys monopoly in the field and has also taken up services that include non-railway catering and e-catering amongst other diversification options. ISRO at Smart Urbanation Dr. PG Diwakar, Director (as Deputy Head to AP-25), ISRO, recently addressed the delegates at Smart Urbanation, enlightening them about the benefits of Earth Observation Satellite, NavIC and various other space technologies.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Infrastructure Urban

01 Jun 2026

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

Infrastructure Urban

01 Jun 2026

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..