Indian Railway Catering & Tourism Corporation (IRCTC) has submitted draft red herring prospectus with the Securities & Exchange Board of India for an IPO (Initial Public Offer). The company plans to offload around 2 crore equity shares through an offer for sale by the government.

According to sources, this Initial Public Offer is estimated to be INR 500-600 crore.

IDBI Capital Markets & Securities, YES Securities (India) and SBI Capital Markets are lead managers to this IPO.

IRCTC is an entity authorized by Indian Railways to offer online railway tickets, catering services and packaged drinking water in trains and at railway stations in India. IRCTC operates the most transacted websites “irctc.co.in” in APAC (Asia-Pacific) region.

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