IRCTC Rs 645 crore IPO opens on Monday

MUMBAI: State-owned Indian Railway Catering and Tourism Corp has set the price band for its 20.16-mln-share initial public offering at 315-320 rupees.

The issue will open on Monday and close on Oct 3, the report said.

Based on the company's earnings-per-share of 17.04 rupees for 2018-19 (Apr-Mar), the shares are valued at 18.5-18.8 times their one-year trailing price-to-earnings multiples.

Bids can be made for a minimum of 40 shares, and in multiples of 40 thereafter.

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