Indian government to sell up to 20% stake in IRCTC via offer for sale

The government of India has proposed selling up to 2.4 crore shares in IRCTC, representing 15% of the paid up equity share capital of the company through offer of sale route. The government has also proposed an additional share sale of 0.8 crore shares, representing 5% of the paid up equity share capital, under in the event of oversubscription. Combinedly, the base offer size and oversubscription option represent 20% of outstanding equity shares of the company or 3.2 crore shares.