Saraf and Partners advised the Government of India in divestment of 5% of its stake in IRCTC

Saraf and Partners advised the Government of India in connection with a divestment of 5% of its stake in Indian Railway Catering and Tourism Corporation (IRCTC)

Saraf and Partners advised (a) the President of India, acting through the Ministry of Railways, Government of India ("MoR"); and (b) the Department of Investment and Public Asset Management, Ministry of Finance ("DIPAM"), in connection with a divestment of 5% of MoR's stake in IRCTC by way of an offer for sale, for an aggregate consideration of Rs. 2,726.87 crores (US$ 332 million).

The Saraf and Partners’ team was led by Partner, Murtaza Zoomkawala, ably assisted by Associates, Ipsita Pallavi Sahoo, Rainika Malhotra and Abhiroop Saha along with Paralegal, Apoorva Tyagi.