At 10.30 hours, the stock traded at Rs 684.80 against the issue price Rs 320.
The company entered the midcap segment as soon as it listed, as the market-cap rose to around Rs 11,000 crore. Over 22 lakh shares changed hands in the first 20 minutes of trade, with total transaction value of Rs 150 crore.
A strong listing was a given, as the stock had quoted a premium of Rs 220-227 per share in the grey market last week, thanks to the 112 times subscription that the IPO saw during the offer period between September 30 and October 4.
The category meant for qualified institutional buyers (QIBs) was subscribed 108.79 times, non-institutional investors (NIIs) quota 354.52 times and retail investors quota 14.65 times.
At the issue price of Rs 320, the stock was quoting a valuation of 19 times its FY19 EPS of Rs 17.
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.
It was conferred the Mini–Ratna status in May 2008.
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