Read more about Indian Railway Finance Corporation IPO subscribed 3.49 times on final day on Business Standard. The initial public offer of Indian Railway Finance Corporation Limited was subscribed 3.49 times on the final day of bidding
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The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin
The ₹4,600 crore IPO from IRFC is ‘attractive,’ and the best thing about the borrowing arm for Indian Railways is the assured margin
Navdeep YadavJan 18, 2021, 11:43 IST
BCCL
The issue from the government-owned company will remain open till January 20, making it the first IPO of 2021.
The best thing about the borrowing arm for the Indian Railways is the cost-plus model. All brokerages have a ‘subscribe’ rating on the stock.
Analysts believe that the IPO is attractively priced and can offer a good investment opportunity for the investors. Healthy financials, growth visibility and strong credit ratings are some of the reasons why they like this issue.
Indian Railway Finance Corporation Limited IPO to open on Monday, January 18, 2021
Posted On: 2021-01-13 08:58:43 (Time Zone: Arizona, USA)
Indian Railway Finance Corporation Limited (the Company ), the dedicated market borrowing arm of the Indian Railways, will open the Bid/ Issue Period in relation to its initial public offering of equity shares of face value of Rs. 10 each ( Equity Shares and such initial public offering, the Issue ) on Monday, January 18, 2021. The Bid/ Issue Period will close on Wednesday, January 20, 2021. The price band of the Issue has been fixed at Rs 25 to Rs 26 per Equity Share.
Initial Public Offering of up to 1,782,069,000 Equity Shares of face value of Rs. 10 each. The initial public offering comprises of a fresh issue of up to 1,188,046,000 Equity Shares ( Fresh Issue ) and an offer for sale of up to 594,023,000 Equity Shares by the President of India, acting through the Ministry of Railways ( Selling Shareholder ) ( Offer For Sale ). The