The Indian Railway Catering and Tourism Corporation (IRCTC) and the Indian Railway Finance Corporation (IRFC) are planning to launch an initial public offering (IPO) by September this year. The government intends to raise Rs 1,500 crore from their IPOs.
IRFC raises the capital through the capital market and borrowing for financing expansion plans of Indian Railways. At the same time, IRCTC handles the railway's activities related to catering and tourism related activities. The government plans to raise around Rs 1,500 crore via IPO of these two companies. About 500 crore through IRCTC's IPO, while around Rs 1,000 crore is expected to be raised through IRFC's offer.
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