E-commerce festivities and IRCTC IPO in this week’s Quicko Bytes.
Hey,
The due date for ITR filing with tax audit is extended till 31st October, read on for festive sales and IRCTC IPO.
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Discount crackers… New product launches, deep discounts, no-cost EMIs and loan options are making the festive sales a hit. Reports suggest nearly USD 5 billion in revenue for e-commerce players this festive season.
How’s the spending? High! Both e-commerce houses, Amazon and Flipkart say there is an increase in the number of customers opting for EMI options for payments.
The first such large scale event, after the policy change that restricts online marketplaces from owning any stake vendors and controlling the inventory sold on their platforms in India.
Tempting, isn’t it? The e-commerce fireworks, end today. Don’t use up all your tax refund. Spend wisely! Wondering about the refund?
Haven’t filed your ITR yet? The due date was 31st August 2019, file a belated ITR for free and the claim eligible refund. The due date for ITR filing with a tax audit is extended to 31st October 2019 from 30th Septemeber.
Confused?! Drop us a message and ask us your tax-related queries, and our experts will call you.
Competitors… None!!! IRCTC has a monopoly on railway catering and internet ticketing. The profitable arm, mainly earn through 55% from catering and rest from selling packaged drinking water, selling tour packages, ads on the ticketing website and fees from selling agents.
Everyone loves IRCTC… The catering and ticketing arm of Indian Railways received a strong response from the markets and many analysts suggested a ‘Subscribe’ on the IPO. The IPO was subscribed 112 times.
Show me the numbers… 12.6% stake or nearly 2 crore equity shares are available for the markets through the IRCTC IPO, with the price band of INR 315–320 per share. 50% of the total shares are reserved for institutional investors and 35% for retail investors.
Why sell a cash cow? The government is on a disinvestment drive and its target for FY 2019–20 is INR 1.05 trillion. The IRCTC IPO is looking to raise INR 645 crore.
Previous rail to the street… Earlier in April 2019, we had another IPO from the railway arm RVNL. The government raised nearly INR 480 crore through disinvestments form Rail Vikas Nigam(RVNL), the engineering arm of railways that helps in building infrastructure.
The subscription for IRCTC IPO closed yesterday and received bids for over 225 crore share against the total issue size of 2 crore shares, making it the most successful share sale in the last 20 months… Did you on-board this train?
“Suppressing criticism can lead to mistakes in policymaking”- Raghuram Rajan
