The IRCTC's share price plummeted, prompting the central government to sell its stake

- Has a market cap of Rs 21,000 crore

New Delhi, 9 September 2020, Wednesday

The central government assumes to sell its 15 to 20 per cent stake in IRCTC. Meanwhile, IRCTC's share price plummeted in the market. The crash was about seven percent. In terms of market cap, IRCTC has a market cap of Rs 21,000 crore.

Shares of IRCTC traded 2.57 per cent lower at Rs 1,378 for five paise this morning on the third day of the week. In just two days, IRCTC's share price plunged as much as seven per cent.

The tender was issued by the Finance Department's Capital Investment Department. Bids were invited from the companies but it was not clear how much of the IRCTC's stake was for sale, so potential companies did not come forward. The companies that asked some questions to bid were put on social media by the finance ministry to answer their questions. The concerned department of finance had estimated that the government was in the mood to sell 15 to 20 per cent of IRCTC's own stake. At present, the government has 87.40 per cent stake in IRCTC. To reach the public holding rules framed by SEBI, the government will have to increase its stake to 75 per cent.