ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon Print

India tests investor appetite with IPO of railway tourism unit

The offering comes amid muted investor sentiment

MUMBAI (NewsRise) -- State-owned Indian Railway Catering and Tourism Corp. will kick off its initial share sale next week, an offering that could test investor appetite for new stocks in a volatile market.

The government is selling a 12.5% stake, or 20.2 million shares, in the IPO of IRCTC, aiming to raise as much as 6.45 billion rupees ($91 million). The shares are priced in the range of 315 rupees to 320 rupees apiece, and the subscription opens Sept. 30 and closes on Oct. 3, the company said in a statement Wednesday.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Discover the all new Nikkei Asia app

  • Take your reading anywhere with offline reading functions
  • Never miss a story with breaking news alerts
  • Customize your reading experience

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more