PW Bureau
The government is expecting to raise Rs 500 crores from IRFC IPO and Rs 1,000 crores from IRCTC IPO
New Delhi: As the government chases a disinvestment target of Rs 90,000 this year, it is looking to raise Rs 1,500 crores from initial public offerings (IPOs) of two Railway subsidiaries — Indian Railway Catering and Tourism Corporation (IRCTC) and Indian Railway Finance Corporation (IRFC) — by September, a source said. The Centre had initiated the process of launching an IPO of IRFC earlier this year, but the company had then said that its borrowing cost will go up if it is listed, the source added. A final call on the matter will now be taken by the Cabinet.
“We are working to bring IPO of Indian Railway Catering and Tourism Corporation (IRCTC) and IRFC by September. IRFC may have to go to Cabinet again after elections,” the source said.