The government has planned to sell about 15-20 per cent stake in Indian Railway Catering and Tourism Corporation (IRCTC) via offer for sale (OFS) and would like to complete the transaction in minimum number of tranches. Last month, the Department of Investment and Public Asset Management (DIPAM) had invited bids from merchant bankers by September 10 for managing the sale in IRCTC.
IRCTC is the only entity authorised by the Indian railways to provide catering services to railways, online railway tickets and packaged drinking water at railway stations and trains in India.
