Indian Railways has revamped & upgraded its e-ticketing website www.iretc.co.in and IRCTC Rail Connect Mobile App, which are used for booking of Railway tickets 'online'.

The Upgraded e-ticketing Website & App, offering Best-in-class features, has been launched by Hon'ble Minister of Railways and Commerce & Industry and Consumer Affairs, Food & Public Distribution, Piyush Goyal on 31 December, 2020.

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Indian Railway Catering & Tourism Corporation announced that in accordance with the approval given by Alternative Mechanism on 16 December 2020, the President of India, acting through Ministry ofRailways, Government of India is proposing to offer up to 16,00,000 equity shares of face value of 10 each to the eligible employees of the Company at a price of 1377.55 per equity share.

The Employee OFS shall remain open from 18 December 2020 (Friday) to21 December 2020 (Monday) (both days inclusive).

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The Government of India initially offered to sell over 2.40 crore shares, constituting 15% paid-up share capital of the company, through the OFS. The floor price for the OFS was set at Rs 1,367 per shares, at a 15.52% discount to IRCTC's closing price of Rs 1,618.05 on Wednesday, 9 December 2020.

The OFS opened on Thursday (10 December 2020) for non-retail investors, while both retail as well as non-retail investors were allowed to subscribe on Friday (11 December 2020).

On Thursday (T day), the OFS received subscription for 4,27,68,445 shares or 198% against the base non-retail offer size of 2.16 crore shares.

Following the strong response on T day, the government decided to exercise the oversubscription option of 80 lakh shares (5% equity) in addition to the base offer. Accordingly, the final share sale was 3.20 crore shares, constituting 20% of the paid-up equity share capital of IRCTC.

The Government of India held 87.4% stake or 13,98,40,000 shares of IRCTC as of 30 September 2020.

As on 15:30 IST on Friday (T+1 day), the OFS received total bids for 72,95,134 shares or 227.97% of the total enhanced retail offer size of 32 lakh shares.

The retail segment received bids for 35.14 lakh shares or 109.84% of the total retail offer size.

The non-retail segment received bids for 37.80 lakh shares or 118.14% of the total retail offer size.

Indian Railway Catering and Tourism Corporation (IRCTC), a Mini Ratna public sector enterprise under the administrative control of Ministry of Railways, is the sole entity authorized by Indian Railways (IR) to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. IRCTC operates in four business segments, namely, internet ticketing, catering, packaged drinking water and travel & tourism.

The company posted a 67.3% decline in net profit to Rs 32.63 crore in Q2 September 2020 from Rs 99.82 crore in Q2 September 2019. Total revenue declined 80% to Rs 108.72 crore in Q2 September 2020 from Rs 535.13 crore in Q2 September 2019.

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Through the OFS, the company's promoter Government of India proposes to sell over 2.40 crore shares, constituting 15% paid-up share capital of the company, with an option to sell an additional 5% stake or 80 lakh equity shares (oversubscription option).

The Government of India held 87.4% stake or 13,98,40,000 shares of IRCTC as of 30 September 2020.

The floor price for the OFS was set at Rs 1,367 per shares, at a 15.52% discount to IRCTC's closing price of Rs 1,618.05 on Wednesday, 9 December 2020.

The OFS opened on Thursday (10 December 2020) for non-retail investors, while both retail as well as non-retail investors will be able to subscribe on Friday (11 December 2020).

A total of 10% of the offer size, aggregating to over 24 lakh shares, has been reserved for retail investors.

As on 11:15 IST, the OFS received subscription for 71,40,739 shares or 33.06% against the base non-retail offer size of 2.16 crore shares.

IRCTC, a Mini Ratna public sector enterprise under the administrative control of Ministry of Railways, is the sole entity authorized by Indian Railways (IR) to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India. IRCTC operates in four business segments, namely, internet ticketing, catering, packaged drinking water and travel & tourism.

The company posted a 67.3% decline in net profit to Rs 32.63 crore in Q2 September 2020 from Rs 99.82 crore in Q2 September 2019. Total revenue declined 80% to Rs 108.72 crore in Q2 September 2020 from Rs 535.13 crore in Q2 September 2019.

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