IRFC IPO: Price Band to Subscription Details, All You Need to Know

The state-owned company has fixed a price band of Rs 25-26 per share for its public issue.

Published: January 17, 2021 10:26 PM IST

By India.com Business Desk

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New Delhi: The initial public offering (IPO) of the Indian Railway Finance Corporation (IRFC) worth over Rs 4,633 crore will open on Monday, January 18, and would close on January 20. The state-owned company has fixed a price band of Rs 25-26 per share for its public issue.

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The net proceeds of the IRFC IPO have been proposed to be utilised in augmenting equity capital base to meet any future capital requirements that arise out of growth in business and general corporate purposes.

The IPO of the NBFC comprises up to 178.20 crore equity shares of Rs 10 each, including the fresh issue of 118.80 crore shares and offer for sale of 59.4 crore equity shares.

On Friday, the company raised Rs 1,390 crore from anchor investors.

Established in 1986, the dedicated financing arm of the railways is a public sector enterprise under the administrative control of the Ministry of Railways.

The Non-Banking Financial Company (NBFC) would utilise the proceeds of the IPO for augmenting equity capital base to meet future capital requirements and general corporate purposes.

With IANS inputs

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Published Date: January 17, 2021 10:26 PM IST