Explanation:

• The government plans to sell about 15-20 per cent stake in IRCTC via offer for sale (OFS) and would like to complete the transaction in minimum number of tranches.
• The Department of Investment and Public Asset Management (DIPAM) had invited bids from merchant bankers by September 10 for managing the sale in Indian Railway Catering and Tourism Corp (IRCTC).
• The government currently holds 87.40 per cent stake in IRCTC. To meet Sebi's public holding norm, it has to lower its stake in the company to 75 per cent.