IRCTC makes blockbuster entry; zooms over 101% in debut trade

Shares of Indian Railway Catering and Tourism Corporation (IRCTC) zoomed over 101% in debut trade on Monday against its issue price of Rs. 320. It listed at Rs. 644, reflecting a huge jump of 101.25% as compared to the issue price on the BSE. On the NSE, it skyrocketed 95.62% to Rs. 626 in opening trade.

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Market valuation at Rs. 10,972 cr in morning trade

The company's market valuation stood at Rs. 10,972 crore in morning trade. The initial public offering of IRCTC was a huge hit among investors, subscribed 111.91 times earlier this month. The Rs. 645-crore IPO was in a price range of Rs. 315-320 per share. IRCTC is the only entity authorised by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.

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