Indian Railway Finance Corporation or IRFC IPO is open from 18th to 20th January 2021. IRFC incorporated in 1986, is a public sector undertaking that is wholly owned by the Government of India. IRFC is involved in financing the acquisitions of rolling stock assets, providing loans to units under the Ministry of Railways, and leasing of railway infrastructure-related assets. IRFC is responsible for fund raising from financial markets to acquire & finance rolling stock assets like trucks, locomotives, coaches, wagons, etc., and leasing them to Indian Railways. It is also responsible for raising funds for improvements, expansion, and management of assets of Indian Railways.
The IPO size is 178.20 Crores equity shares at a price band of Rs.25 to Rs.26 per equity share. The total issue size is Rs. 4,633.38 crores, of which Rs. 3,088.92 crores is a fresh issue, while the balance Rs. 1,544.46 crores is an offer for sale. The minimum shares which should be applied for are 575 and the maximum is 7,475. The shares will be listed on 29th January 2021. To check the application status of IRFC IPO, one may log on to the registrar’s website or BSE.