Shares of Indian Railway Catering and Tourism Corporation (IRCTC) zoomed over 101 percent in debut trade on Monday against its issue price of Rs 320.
It listed at Rs 644, reflecting a huge jump of 101.25 percent as compared to the issue price on the BSE.
On the NSE, it skyrocketed 95.62 percent to Rs 626 in opening trade. The company’s market valuation stood at Rs 10,972 crore in the morning trade.
The initial public offering of IRCTC was a huge hit among investors, subscribed 111.91 times earlier this month.
The Rs 645-crore IPO was in a price range of Rs 315-320 per share.
IRCTC is the only entity authorized by Indian Railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.