HospitalityBiz India
Hotels FoodService Operations Ministry Associations Equipment Editorial HR Technology Technology Advisory Board Community
Follow us on Facebook Follow us on Twitter instagram
    Home > Ministry
MINISTRY

IRCTC IPO pricing: FinMin withholds bankers payment

Friday, November 1, 2019, 14:02 Hrs  [IST]
HBI Staff | Mumbai

Acoording to The Free Press Journal, Finance ministry is upset over the pricing of the initial public offering of Indian Railway Catering and Tourism Corp Ltd and has withheld the fees payable to merchant bankers, a senior ministry official said .


The ministry believes that the investment bankers did not optimally price the issue--the shares were subscribed 112 times and had listed at nearly the double of the issue price of INR 320 on Oct 14 .Within 10 days, the shares had touched as high as INR 953.50. "The ministry is of the opinion that the price discovery was not done properly by the book running lead managers of the IPO," the official told Cogencis .IDBI Capital Markets & Securities Ltd, SBI Capital Markets Ltd and YES Securities (India) Ltd were the merchant bankers to the issue .

 
Print News Email News Back
Bookmark to Add to NewsvineNewsvine Bookmark with del.icio.usdel.icio.us Digg ItDigg
Add RSS to Add to Google Add to My Yahoo! Subscribe with Bloglines Subscribe
 POST A COMMENT
* Name :    
* Email :    
* Message :  
   
 
CoverStory
Analysis
 
  The Indian Institute of Architects (IIA) Natcon 2020 virtual event concludes successfully
  Winners of The Park Elle Décor Student Contest felicitated at Indian Design ID 2020
 
weekly
Receive the best of Hospitality content in your mailbox.
Weekly e-Newsletter
Events Calendar




Events
 
 
people
interview
newappoint
expert
© Copyright 2016 Saffron Synergies Pvt Ltd
HOME   |   ABOUT US   |   CONTACT US   |   FEEDBACK   |   DISCLAIMER   |   SITE MAP   |   ARCHIVES