Image Source : INDIA TV IRFC IPO opens in the present day
The preliminary public providing (IPO) of Indian Railway Finance Corporation (IRFC) value about Rs 4,600 crore will hit the market in the present day on January 18. The Union Cabinet had in April 2017 accepted the itemizing of 5 railway corporations. Four of them — IRCON International Ltd, RITES Ltd, Rail Vikas Nigam Ltd, and Indian Railway Catering and Tourism Corp — have already been listed.
Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey had earlier tweeted, “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.”
Here are the whole particulars concerning the Indian Railway Finance Corporation (IRFC) IPO:
Opening and shutting date: IRFC will open on January 18 and would shut on January 20.
Band Price: The firm has a hard and fast value band for its public subject at Rs 25-26 per share.
Fund Raising: IRFC has a hard and fast value band at Rs 25-Rs 26 per fairness share for its Rs 4,600-crore preliminary public providing (IPO).
Public Offering particulars: The subject is of as much as 178.20 crore shares, comprising a contemporary subject of as much as 118.80 crore shares and a suggestion on the market of as much as 59.40 crore shares by the federal government, in response to the draft prospectus. This would be the first IPO by a railway non-banking monetary firm (NBFC). In January 2020, IRFC had filed draft papers for its IPO.
IRFC IPO Anchor traders: The anchor traders embody HDFC Trustee Company Ltd, Nippon Life India Trustee Ltd, Government of Singapore, Monetary Authority of Singapore, Kuwait Investment Authority Fund, Kotak Mahindra (International) Ltd, Goldman Sachs (Singapore) PTE, Tata AIG General Insurance Co Ltd and Aditya Birla Sun Life Insurance Co Ltd.
About Indian Railway Finance Corporation (IRFC): The firm’s principal enterprise is to borrow funds from the monetary markets to finance acquisition/ creation of property that are then leased out to the Indian Railways. IRFC, arrange in 1986, is a devoted financing arm of the Indian Railways for mobilising funds from home in addition to abroad markets. Its major goal of IRFC is to satisfy the predominant portion of the ‘extra-budgetary sources’ requirement of the Indian Railways by market borrowings on the best charges and phrases.
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