Indian Railway Finance Corporation has an investment opportunity
If you are thinking of investing in the stock market, then the initial public offering (IPO) of the Indian Railway Finance Corporation (IRFC) is going to open next week. Let’s know all the important things related to this …
- January 13, 2021, 12:26 PM IST
IRFC Chairman and Managing Director Amitabh Banerjee recently said that there is a plan to launch an IPO of about Rs 4,600 crore. This IPO will open on January 18 and will close on January 20.
The Secretary of the Department of Investment and Public Asset Management tweeted that IRFC will issue IPOs worth more than Rs 4,600 crore in the price band of Rs 25 to 26. In which the anchor book will open on 15 January and the main book will be open between 18-20 January.
IRFC coming up for listing with a Rs 4600 cr + issue in a price band of Rs 25-26 per share. Anchor book on Jan 15 and the Main book from Jan 18-20. pic.twitter.com/LHjZxIjffn
– Secretary, DIPAM (@SecyDIPAM) January 13, 2021
IRFC was established on 12 December 1986
The Indian Railway Finance Corporation (IRFC) was established on 12 December 1986 as a dedicated financing arm of the Indian Railways to raise funds from domestic as well as foreign capital markets. Amitabh said that the IPO will further increase the value of the company and bring in better corporate governance norms. This will bring more transparency in the functioning of the company.
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The Union Cabinet approved five railway companies in April 2017. Among them, IRCON International Limited, Rights Limited, Rail Vikas Nigam Limited and Indian Railway Catering and Tourism Corp (IRCTC) have already been listed.
How to apply
Like any other IPO, anyone can apply through the applications supported by Blocked Amount available in their bank. Apart from this, application can also be done by IPO form.