IRCTC Share crashes again!

The share price of IRCTC fell by 5% yesterday.

Today it's down another 2.48%, resulting in a 7% loss.

Today's price is stacked at ₹671.95

The reason is that the Indian government decided to start an offer-for-sale or OFS campaign for its IRCTC shares.

This Wednesday Indian Railway announced that the government will sell its 5% worth of stake in the company.

This OFS is all part of the government's divestment plan for this year

2.5% of its shares will be sold at ₹680 and an additional 2.5% sale in an exchange filing, the government said.