In a boost to the divestment process, the shares of Indian Railway Catering & Tourism Corporation (IRCTC) on Monday made a stellar debut on the bourses, zooming 127 percent to close at Rs 728.60 over the issue price of Rs 320.
This is the first listing of a government-owned entity this fiscal and the IPO received 112 times oversubscription for an issue of Rs 645 crore-the second best in decades.
The mini-ratna firm, a subsidiary of the Railways, made a dream stock market debut listing at Rs 644, a jump of 101.25 percent, rallied to Rs 743.80 to close at Rs 728.60 the BSE. The stock did not below Rs 625 during the trade. On the NSE, it skyrocketed 95.62 percent to Rs 626 in opening trade.
