Shares of state-run IRCTC more than doubled on market debut on the BSE and NSE on Monday. The railway services provider’s IPO was subscribed more than 112 times. Though its early to say if market sentiment has turned a corner, the strong demand does suggest that New Delhi needs to work out its pricing strategy in future share sales better so that the issues aren’t underpriced, especially given the tall disinvestment target it has set out to achieve.
Shares of state-run IRCTC more than doubled on market debut on the BSE and NSE on Monday. The railway services provider’s IPO was subscribed more than 112 times. Though its early to say if market sentiment has turned a corner, the strong demand does suggest that New Delhi needs to work out its pricing strategy in future share sales better so that the issues aren’t underpriced, especially given the tall disinvestment target it has set out to achieve.