If you had invested Rs 1,00,000 on this IPO in October 2019, your shares would now be worth nearly Rs 15,00,000. IRCTC has taken shareholders on vertical one-way journey from Rs 320/share to zooming past the 5000 mark
IRCTC: The bullet train returns
IRCTC shares were listed on the bourses on 14 October 2019 and were offered to the public for Rs 320/share. The Rs 645-crore initial public offer (IPO) by state-run IRCTC was overall subscribed 111.92 time so it was no surprise that it listed with a 100% gain. And from there it has been a fairytale journey for investors who got on the platform early. In the just last 3 months the stock is up over 140% since the company announced plans of a stock split.
The big bet on the monopoly
IRCTC is the only entity authorised by the Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India
Missed the rally? Well enjoy the memes
Brokerages feel there is steam still left in the stock, however the meteoric moves has inspired a meme fest on social media platforms keeping those who missed out entertained.