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Indian Railway Finance Corporation IPO (IRFC IPO): Price, Allotment, Listing, Subscription, Gmp

We have a detailed review of the Indian Railway Finance Corporation IPO (IRFC IPO). In this article will discuss release date, IPO offer price, subscription, IRFC IPO allotment, grey market price and other details like the company’s background, its financial positions, its promoters and other related things.

Indian Railway Finance Corporation IPO
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Indian Railway Finance Corporation (IRFC) was set up on 12th December 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets.

The primary objective of IRFC is to meet the predominant portion of ‘Extra Budgetary Resources’ (EBR) requirement of the Indian Railways through market borrowings at the most competitive rates and terms. The Company’s principal business therefore is to borrow funds from the financial markets to finance the acquisition / creation of assets which are then leased out to the Indian Railways.

IRFC’s cumulative funding to rail sector has crossed Rs.1.80 lakh crore as of 31st March, 2017 and is all set to cross Rs.2.20 lakh crore by the end of March, 2018. The funds are utilized for acquiring rolling stock assets and also building up infrastructure, constituting significant part of annual capital expenditure of Indian Railways. So far, it has funded acquisition of 8998 locomotives, 47910 passenger coaches, 2,14,456 wagons, which constitute around 70% of the total rolling stock fleet of Indian Railways.

From 2011-12 onwards, IRFC has forayed into funding of railway projects and capacity enhancement works. The Company has been assigned the additional task of funding Railway Projects through Institutional Finance to the extent of Rs.1.50 Lakh Crore by 2019-20.

IRFC has also been lending to various entities in Railway sector like Rail Vikas Nigam Limited (RVNL), Railtel, Konkan Railway Corporation Limited (KRCL), Pipavav Railway Corporation Limited (PRCL) etc.

IRFC’s constant endeavour has been to diversify its borrowing portfolio in terms of instruments, markets and investors which has led to the Company meeting the targeted borrowings year after year, through the issue of both taxable and tax-free bonds, a term loan from banks/financial institutions besides offshore borrowings, at competitive market rate.

Promotors of Indian Railway Finance Corporation IPO (IRFC IPO)

  • Manjula Rangarajan is the Part-time Chairperson of the Board of the Company. She holds a master’s degree in sociology from the University of Madras. She is an officer of the Indian Railway Accounts Service. She currently serves as the financial commissioner (railways), alongside the position of additional member (finance) and additional member (budget) with the Railway Board.
  • Amitabh Banerjee is the Managing Director of the Company. He holds a bachelor’s degree in commerce from the University of Delhi and a master’s degree in commerce from the University of Delhi and is also a fellow member of the Institute of Cost Accountants of India. He is an employee of the Indian Railways Accounts Service. In the past, he has been associated with Konkan Railway Corporation Limited as well as the Hindustan Paper Corporation Limited in the capacity of the director (finance).

Lead Managers of Indian Railway Finance Corporation IPO (IRFC IPO)

  • HSBC Securities & Capital Markets Pvt Ltd
  • ICICI Securities Limited
  • IDFC Bank Limited
  • SBI Capital Markets Limited

Financials of Indian Railway Finance Corporation IPO (IRFC IPO)

Particulars30-Sep-2031-Mar-2031-Mar-1931-Mar-18
Total Assets29,19,865.8127,55,041.2920,64,382.9516,14,510.41
Total Revenue73,848.291,34,210.901,09,873.5592,078.39
Profit After Tax18,868.4131,920.9621,399.3320,014.60

Indian Railway Finance Corporation IPO (IRFC IPO) Details

Security TypeEquity
Issue PeriodJan 18, 2021 to Jan 20, 2021
IPO Market Timings10.00 am to 5.00 pm
Issue Size – No. of Shares1,782,069,000 Eq Shares of ₹10
(aggregating up to ₹4,633.38 Cr)
Price Band₹25 to ₹26 per equity share
Face Value10
Market Lot575 Shares
List atNSE, BSE

Tentative Date/ Timetable of Indian Railway Finance Corporation IPO (IRFC IPO)

Bid/Offer Opens OnJan 18, 2021
Bid/Offer Closes OnJan 20, 2021
Finalisation of Basis of AllotmentJan 25, 2021
Initiation of RefundsJan 27, 2021
Credit of Shares to Demat AcctJan 28, 2021
IPO Shares Listing DateJan 29, 2021

Indian Railway Finance Corporation IPO (IRFC IPO) Latest Grey Market Premium (GMP)

DATEOFFER PRICEGREY MARKET PREMIUMKOSTAK RATES
17.01.2021₹26₹2-3₹450
16.01.2021₹26₹2-3₹550
15.01.2021₹26₹2-3₹550
14.01.2021₹26₹2-3₹550
13.01.2021₹26₹2-3₹550

IPO Subscription Details of Indian Railway Finance Corporation IPO (IRFC IPO)

SUBSCRIPTION
(CATEGORY WISE)
SHARES
OFFERED
DAY 1DAY 2DAY 3
QIB
NII
Retail
Total

IPO Allotment status of Indian Railway Finance Corporation

Indian Railway Finance Corporation IPO (IRFC IPO) Allotment Status can be checked here by clicking to find the IPO Allotment Status. Allotment of Equity Shares as per the Fresh Issue and move of the Offered Shares of the Promoter Selling Shareholders compliant with the Offer available to be purchased to the effective Bidders.

Company Contact Information

Indian Railway Finance Corporation Limited
UG-Floor, East Tower, NBCC Place
Bisham Pitamah Marg, Pragati Vihar, Lodhi Road
New Delhi – 110 003

Phone: 91 (11) 2436 9766
Email: dgmcs@irfc.nic.in
Websitehttp://www.irfc.nic.in

Indian Railway Finance Corporation IPO (IRFC IPO) Registrar

KFintech Private Limited
Selenium Building, Tower-B, Plot No 31 & 32, Financial District, Nanakramguda, Serilingampally,
Rangareddi, Telangana India – 500 032.

Phone: 1-800-3454001
Email: einward.ris@kfintech.com
Websitehttps://karisma.kfintech.com/

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