Govt files IPO document for IRCTC with Sebi, plans to offload 12% stake

The Indian Railway Catering and Tourism Corporation (IRCTC), the Railways’ tourism and catering arm, could get listed within this financial year. The Centre on Thursday filed IRCTC’s draft red herring prospectus (DRHP) with Sebi.

Market sources say the government plans to offload around 12 per cent stake through the IPO. The share sale could fetch between Rs 500 crore and Rs 600 crore and help the government with its disinvestment target.

According to the DRHP, IRCTC is the only entity authorised by the Indian Railways to provide catering services to railways, online tickets and packaged drinking water at railway stations. The central public sector enterprise has also diversified into other business segments like e-catering, executive lounges and budget hotels.