IRCTC Tejas Express India's First Private Train Lucknow to Delhi

Uttar Pradesh Chief Minister Yogi Adityanath flagged off the Tejas Express on the Lucknow-New Delhi route. This is India’s first private train run by the subsidiary of Indian Railways IRCTC, or Indian Railway Catering and Tourism Corporation. The Tejas Express cuts down travel time between the two cities from 6.40 hours taken by Swarn Shatabdi to 6.15 hours. The Swarn Shatabdi is currently the fastest train on this route.

An AC chair car passenger Tejas Express ticket costs Rs 1,280 and its Rs 2,450 for the executive chair car. With dynamic pricing, the costliest Tejas Train ticket is Rs 4,325. The Tejas Express is the first corporate train in India.

The Tejas Express leaves Lucknow at 6.10 AM and would reach New Delhi at 12.25 PM. For the return journey, the train leaves New Delhi at 3.35 PM and reaches Lucknow at 10.05 PM. The Tejas Express has just two halts; Kanpur and Ghaziabad. The train runs on all days except Tuesdays. If the IRCTC experiment is successful, this could pave the way for Private Operators to run trains in India.

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IRCTC Tejas Express India's First Private Train Lucknow to Delhi

Why Tejas Express?

• Tejas Express is more like a premium version of the Shatabdi Express category of the AC chair cars. The IRCTC Tejas Express has many new features. For the first time ever, passengers are paid for any delay on an hourly basis. Each and every passenger on the Tejas Express gets Rs 25 Lakh free travel insurance.
• Tejas offers the baggage pick up-drop facility.  You can avail the baggage pick up-drop facility on a payable basis. Your baggage is collected from your home, delivered on the train seats and then from the seats to the destination stay points.
• IRCTC also has the system of partial refunds on train delays. If the train is late by more than 1 hour, you (passenger) get a refund of Rs 100. If the train is delayed by more than 2 hours, you get a refund of Rs 250.
• The IRCTC travel insurance also has Rs 1 Lakh cover for robbery and household theft during the passenger travel period.
• You can book tickets on the Tejas Express only at the IRCTC website or IRCTC Rail Connect App. You can also get tickets booked through authorized IRCTC agents.
• The IRCTC-operated Tejas Express does not support tatkal or premium tatkal quota. Lucknow-Delhi Tejas Express has advanced reservation period of 60 days.
• You get aircraft-like-snack-style meals on Tejas Express. You can enjoy high-quality food and beverages on Tejas Express. You enjoy tea/coffee vending machines absolutely free of costs. You get welcome tea and breakfast in the morning and snacks are also provided before de-boarding. In the evening train, tea and dinner is served.
• IRCTC offers the Executive-Lounge Facility at the New Delhi Railway Station at reduced rates to Tejas Express passengers.
• Each Tejas coach would be provided with an RO water filter in addition to packaged drinking water bottle to each passenger.
• IRCTC would extend taxi hiring facility, hotel bookings and so on, to passengers who need them. Wheel Chair is provided to passengers on demand.

IRCTC IPO

The IRCTC IPO opened on September 30^th and closed on October 3^rd. IRCTC put 2 crore shares for sale, but received bids for 225 crore shares. The price range of IRCTC IPO was Rs 315-320 a share. The Government of India would disinvest 12.6% stake through this IPO. The Government would hold 87.4% stake in IRCTC after the IPO. The IRCTC IPO was oversubscribed 111 times by the end of October 3^rd with bids worth Rs 72,200 Crores.

IRCTC has a monopoly over booking platform for railway tickets. It also has monopoly over on-board catering and sale of packaged drinking water. IRCTC now has new revenue streams with the introduction of new train routes under its banner. It enjoys freedom of pricing with dynamic pricing on Tejas Express.

IRCTC IPO had another interesting feature. The shares reserved for employees were oversubscribed 6 times. This is rare when it comes to government-owned companies. Based on prices quoted in the grey market, expect a jump of 50-60% on listing date.

See Also: What is an IPO?

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