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IRCTC files DRHP with Sebi for IPO

The issue comprises two crore equity shares with a face value of Rs 10 each through an offer for sale by the government

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Indian Railway Catering and Tourism Corporation (IRCTC) on Thursday filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (Sebi) for its proposed initial public offering (IPO) to raise between Rs 500 crore and Rs 600 crore.

The issue comprises two crore equity shares with a face value of Rs 10 each through an offer for sale by the government.

Out of the net offer, equity shares may be reserved for eligible employees, but not exceed 5% of the post-offer paid-up equity share capital of the company. Up to 50% of the offer will be available for the allocation to qualified institutional buyers.

Further, up to 15% of the offer will be available for allocation on a proportionate basis to non-institutional bidders and 35%for the allocation to retail individual bidders.

The book running lead managers are IDBI Capital Markets and Securities, SBI Capital Markets and Yes Securities India.

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