InvestorQ : Is it true that the government is again planning to hive off its stake in IRCTC?
Lavanya Subramanian made post

Is it true that the government is again planning to hive off its stake in IRCTC?

Answer
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Anamika Sodhani answered.
1 month ago


Yes that is absolutely correct. The government is planning to hive off further stake in IRCTC, less than a year after the last OFS. The merchant bankers have been asked by the government to submit their valid bids by September 10.

Currently, the government owns 87.40% in IRCTC and the government may look to reduce its stake to 75% in li with SEBI recommendations on public holding. IRCTC has a monopoly to provide catering services to railways, online railway tickets and packaged drinking water.

The government has a massive divestment target of Rs.210,000 crore this year and it has not even seriously started the exercise.