IRCTC IPO allotment status announced: How to check1 min read . Updated: 10 Oct 2019, 12:20 PM IST
- Investors can now check the status of IRCTC IPO allotment online
- IRCTC IPO was subscribed 112 times
Investors who had applied for IRCTC IPO can check the allotment status at ipo.alankit.com by entering their PAN or application number. The registrar of the IRCTC IPO, Alankit Assignments, handled share allotment and will also process the refunds. As compared to 2.02 crore shares on offer from IRCTC in the IPO, investors bid for 225 crore shares of IRCTC. After the IPO, the government's stake in IRCTC will come down to 87.4%.
IRCTC shares are likely to get listed on both BSE and NSE on 14th October. And according to news reports, IRCTC shares are changing hands at a hefty premium in the grey market, indicating strong listing gains.
The retail segment of IRCTC IPO was subscribed nearly 15 times. In case of an over-subscription of an IPO, allotment happens as per predefined rules.
The total number of shares available for retail investors is divided by the minimum lot size, which in IRCTC's case was 40. This determines the maximum number of applicants who will receive allotment. If the number of applicants are more than this, a lottery is held.
Many brokerages had recommended subscribe to the IRCTC IPO, citing its monopolistic nature of business, attractive valuation, and a good dividend pay-out track record of the company. Analysts also said that the recent corporate tax cut and restoration of service charges on ticket bookings will also benefit IRCTC's earnings.
IRCTC is authorised by Railways to offer train tickets online, offer catering service and exclusively manufacture and supply packaged drinking water at railway stations and on trains in India. It has also recently ventured into the business of operating trains. (With Agency Inputs)