The issue will also have the option to sell up to 2 crore additional shares in the event of oversubscription, taking the total offer size to 5% of IRCTC’s total shareholding.
IRCTC will reserve 25% of the offer size for mutual funds and insurance companies. It will also reserve 10% of the offering for retail investors, who can place bids for shares aggregating up to Rs 2 lakh.
Shares representing 0.5% of IRCTC’s total shareholding, over and above the offer shares, may be offered to eligible employees after completion of the offer, the company said. Eligible employees may apply for equity shares worth up to Rs 5 lakh.
However, any bids by eligible employees will be considered for allocation, in the first instance, for an amount up to Rs 2 lakh, IRCTC said.
The offer for sale will be executed through a separate, designated window of the BSE Ltd. and National Stock Exchange of India Ltd.