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.