IRCTC IPO: A huge boom in investors, full subscribe, you also have a chance to earn
The IPO of the Indian Railway Catering and Tourism Corporation (IRCTC) has received strong support from investors. It became fully subscribed on the second day of opening. It has subscribed 1.08 times till 10:30 AM on 1 October.
- Last Updated:
October 1, 2019, 12:16 PM IST
- Edited by: Puja menon
IRCTC IPO has a huge buzz among investors As of 10:30 am on the country's largest exchange NSE (Nation Stock Exchange), 21,687,840 bids have been received for a total of 20,160,000 shares of IRCTC.
Small investors are getting a rebate of 10 rupees In the IPO, small investors are being given a discount of Rs 10 per share. The lot size of the IPO of IRCTC is 40 equity shares. This means you can bid for a minimum 40 shares for the IPO.After this, you can apply in multiples of 40 equity shares. Retail investors and employees will get a discount of Rs 10 per share in the final offer price.
What is the way to invest in IPO? Asif Iqbal, head of research at Escort Security, explains that you can invest directly in your own IPO, for which you need to have a demat account. It can be invested through a broker.
>> Every brokerage house maintains a separate section on its website for investing in IPOs. Where you can fill in some information and apply for an IPO.
>> Chief among these information is how much stock you want to apply at what price. According to your application, the same amount is blocked from IPO to listing.
>> A certain amount is required to be invested in an IPO, you cannot bid for a share in an IPO. Here the application is according to lot size.
>> You must bid for at least a certain number of stocks. The price band of the IPO of IRCTC is Rs 315–320 per share and has a lot size of 40 equity shares.
> According to this, you have to invest Rs 12,600-12,800 for a lot.
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First published: October 1, 2019, 11:45 AM IST