New Delhi, Dec 9 (IANS): The Union government has proposed to sell up to 2.40 crore shares or 15 per cent of the paid-up equity share capital of IRCRTC through the offer of sale route.

It has also proposed an additional share sale of up 80 lakh equity shares of 5 per cent of the paid-up equity share capital, in case of oversubscription.

In total, the base offer size and oversubscription option represent 20 per cent of outstanding equity shares of the company.

The floor price of the offer has been fixed at Rs 1,367 per equity share.

The IRCTC share sale will take place on a separate window of the stock exchanges on December 10 and December 11. Only retail investors shall be allowed to place their bids on December 11.

The Twitter handle of the Secretary of Department of Investment and Public Asset Management (DIPAM) said on Wednesday: "Offer for Sale in IRCTC opens tomorrow for Non Retail investors. Day 2 for retail investors. Govt. would divest 15 per cent equity with a 5 per cent green shoe option."