The initial public offer (IPO) of Indian Railway Catering and Tourism Corporation (IRCTC), which closed for subscription on Thursday, has created a record in terms of the highest-ever subscription for a public issue of a government-owned company.
As per NSE data, the public issue, that aims to raise ₹645 crore, was subscribed nearly 112 times with bids received for 225.61 crore shares against 2.02 crore shares on offer in the price band of ₹315 to ₹320.
As per data from Prime Database, this is the first time ever that an IPO of a public sector undertaking (PSU) has been subscribed more than 100 times. In 2017, the public issue of Housing & Urban Development Corporation (HUDCO) was subscribed nearly 79 times. In the same year, Cochin Shipyard public issue was subscribed 75.59 times.