IRCTC IPO: Wow! BIG MONEY MAGNET listing expected - Issue price settles at WHOPPING Rs 626

The Indian Railway Catering and Tourism Corporation (IRCTC) issue price has settled at Rs 626, which is around 95 per cent higher than the base price of Rs 320. The market experts were expecting around 50-75 per cent higher settlement of the IRCTC IPO, but the settled prices is beyond the expectation of the stock experts.

Speaking on the IRCTC IPO listing Prakash Pandey, MD & CEO at Plutus Advisors said, "The IRCTC IPO is expected to gain from both Domestic Institutional Investors (DIIs) and the Foreign Institutional Investors (FIIs) because in the Indian Railways Mini Ratna company FIIs were not allowed to apply for its IPO while the DIIs who applied for it, very few of them got its allottment as it was subsribed 112 times."

The IRCTC IPO had a higher price band cap at Rs 320 and retail investors were given Rs 10 discount means a retail investor got the IRCTC IPO at Rs 310, which is the cheapest among the majority of the profit-making stocks at the Dalal Street. 

See Zee Business Live TV streaming below:

Zee Business Managing Editor Anil Singhvi has suggested stock market investors to buy the counter at around Rs 470 levels.