Government plans IPOs of IRCTC and IRFC by September 2019 to raise about Rs 15 billion

The government is planning to raise around Rs 15 billion by September 2019 by launching IPOs of the Indian Railway Catering and Tourism Corporation (IRCTC) and the Indian Railway Finance Corporation (IRFC). While IRCTC’s IPO is expected to be floated by September 2019, that of IRFC will be taken up for consideration by the cabinet after the elections are concluded. IRCTC’s IPO may garner about Rs 5 billion, and the offering of IRFC, if it goes ahead, could raise about Rs 10 billion for the government.