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

06 Feb 2026

Lucknow Metro East-West Corridor Consultancy Contract Awarded

The Uttar Pradesh Metro Rail Corporation has awarded the first construction-related consultancy contract for the Lucknow Metro East West Corridor to a joint venture of AYESA Ingenieria Arquitectura SAU and AYESA India Pvt Ltd. The firm was declared the lowest bidder for the Detailed Design Consultant contract for Lucknow Metro Line-2 under Phase 1B and the contract was recommended following the financial bid. The contract is valued at Rs 159.0 million (mn), covering design services for the corridor. Lucknow Metro Line-2 envisages the construction of an 11.165 kilometre corridor connecting Cha..

Infrastructure Urban

06 Feb 2026

Div Com Kashmir Urges Fast Tracking Of Jhelum Water Transport Project

The Divisional Commissioner of Kashmir has called for the fast-tracking of the Jhelum water transport project, urging district administrations and relevant agencies to accelerate planning and clearances. In a meeting convened at the divisional headquarters, the commissioner instructed officials from irrigation, public health engineering and municipal departments to prioritise the project and coordinate survey and design work. The directive emphasised removal of administrative bottlenecks and close monitoring to ensure timely mobilisation of resources and contractors. Officials were told to in..

Infrastructure Urban

06 Feb 2026

Interarch Reports Strong Q3 And Nine Month Results

Interarch Building Solutions Limited reported unaudited results for the third quarter and nine months ended 31 December 2025, recording strong revenue growth driven by execution and a robust order book. Net revenue for the third quarter rose by 43.7 per cent to Rs 5.225 billion (bn), compared with Rs 3.636 bn a year earlier, reflecting heightened demand in pre-engineered building projects. The company’s total order book as at 31 January 2026 stood at Rs 16.85 bn, supporting near-term visibility. EBITDA excluding other income for the quarter increased by 43.2 per cent to Rs 503 million (mn),..