Indian Railway Finance Corporation (IRFC)
IRFC IPO: Indian Railway Finance Corporation (IRFC) IPO is subscribed 95 percent on the second day of investment today. The price band of the company’s issue is Rs 25-26 per share.
- January 19, 2021, 3:33 PM IST
Retail investors are also taking a lot of interest in the IPO. The portions that IRFC has set aside for retail investors have subscribed 1.8 times. While the portion set aside for the employees has been filled 17.61 times. The share of non-institutional investors is 14.7 per cent, while the share of institutional investors is 0.02 per cent.
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Price band Rs 25-26The price band of the company’s issue is Rs 25-26 per share. The company hopes to raise Rs 46,00 crore from it. After the IPO, the government’s stake in the company will come down to 86.4 per cent. Currently, IRFC has raised Rs 1,390 crore from Anchor Investors.
178.20 crore shares have been issued under the IPO of IRFC. Of these, 118.80 equity shares are fresh issue, while 59.40 crore equity shares are being sold by President of India. Out of this, shares worth Rs 50 lakh are reserved for employees.
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How much investment will have to be made
In this issue, it will be necessary to bid for at least 575 equity shares. That means there will be a lot of 575 shares. Money can be put in an IPO for a maximum of 13 lots. In the IPO of IRFC, 50 per cent of the issue is reserved for qualified institutional buyers (QIB). While 15 per cent for non-institutional buyers. 35 per cent is the reserve for retail investors.
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.