State-run IRCTC delivers India’s best trading debut in 2 years

Indian Railway Catering and Tourism Corporation (IRCTC), a state-run firm that offers train ticketing and catering services in India, more than doubled on its first day of trading in what was the best public debut for a local firm in two years.
The firm sold 20.1 million shares, or a 12.5% stake on Monday, generating about $91.09 million for the Indian government. IRCTC is the fourth public company to come out of Indian Railways. The Indian government retains about 87.5% stake in the firm.
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