IRCTC draft RHP likely to be filed with Sebi next month

Sarkaritel
By Sarkaritel May 8, 2019 19:45


New Delhi, May 8  The catering unit of Indian Railways IRCTC is likely to file the draft red herring prospectus for its Rs 400 crore IPO next month with market regulator Sebi.

The IPO is expected by August-end, official sources said.

Last month, the government raised about Rs 480 crore by selling 12.12 per cent stake in Rail Vikas Nigam Ltd (RVNL).

In April 2017, the Cabinet Committee on Economic Affairs had approved listing of five railway companies — IRCON International, RITES, RVNL, IRFC and IRCTC. Of them IRCON International and RITES were listed in 2018-19.

The government has budgeted to raise Rs 90,000 crore by way of CPSE disinvestment in the current financial year, up from Rs 85,000 crore in the last fiscal.

The other modes of disinvestment which the DIPAM would take are strategic disinvestment of a host of CPSEs and monetising non-core assets of state-owned companies and next tranches of Bharat 22 and CPSE ETF.

Bharat-22 ETF, which was launched in 2017-18, has 16 central public sector enterprises covering six sectors, 3 public sector banks and 3 private sector companies where the government holds minority stake.

CPSE-ETF comprises shares of 11 companies — ONGCNSE, Coal IndiaNSE, Indian Oil Corp, Power Finance Corp, REC, Bharat Electronics, Oil India, NTPC, NBCC (India), NLC India and SJVN Ltd.

Sarkaritel
By Sarkaritel May 8, 2019 19:45