Shares of IRCTC more than doubled on their listing debut on BSE and NSE. On BSE, they rose as much as 118% to ₹698, as compared to issue price of ₹320.
But investors who were trying to buy irctc shares today got some strange message. Some got the message that their shares are in waiting list while many got the message that their shares are in RAC.
Generally the RAC berth means that two people share the seat in train, does it mean that shares will be allocated to 2 people equally. IRCTC has not given a clarification on the same. But the bumper listing of irctc has created some problems too. People who got a salary hike few months back and were allocated irctc shares have been asked to return back their salary hike as companies have designed new policy from today.
IRCTC shareholders were seen queuing up Starbucks and iPhone stores to invest their lump sum amount. Even multiplexes saw many people buying their costly popcorn and on investigation it was found that all those were irctc shareholders.