Indian Railways Company IPO subscribed 112 times |
Stock exchange data showed state-run Indian Railway Catering and Tourism Corporation`s initial public offering to raise $90.89 million was subscribed nearly 112 times by the end of the book-running process. According to data from the National Stock Exchange, Investors bid for 2.25 billion shares of the company, compared with 20.2 million shares on offer on Thursday. The overwhelming response comes amid slowing growth in Asia`s third-largest economy, which has hit sales of everything from cars to cookies, prompting the government to step in with deep cuts in corporate taxes and a raft of other measures to revive growth. IRCTC is also partly in the internet space and such companies are witnessing heightened investor interest. The company is authorized by the railway ministry to offer Indian railway tickets online, offer catering service and exclusively manufacture and supply packaged drinking water at railway stations and on trains in India.
|
|
|
|