Govt to sell 20% stake in IRCTC, Offer for Sale open

The government has proposed to sell up to 20% of its stake in IRCTC through an Offer for Sale (OFS) which opens for subscription on Thursday. “Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. The government would divest 15 percent equity with a 5 percent green shoe option,” said Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) in a tweet. As of September 30, the government had held an 87.40 stake in IRCTC which went public last year. To meet SEBI’s public holding norm, the government has to lower its stake in the company to 75%.