IRCTC public offer subscribed 112 times

The initial public offering (IPO) of government-controlled Indian Railway Catering and Tourism Corporation (IRCTC) was subscribed 112 times on the closing day with the online ticketing entity receiving bids for 2.3 billion shares as against 20.2 million shares on offer.

The portion of non-institutional investors, including high net worth individuals, received the most subscription (354 times) as bids were made for 1.1 billion shares as against three million shares on the offer.

The portion of qualified institutional buyers, including brokers with large client accounts, was subscribed 109 times while the retail portion was subscribed almost 15 times.

Employees of IRCTC, who were eligible for 160,000 shares,  bid for 9.3 million shares.

IRCTC had set the price band at Rs 315-320 per share for the Rs 645 crore IPO.