The three-day initial public offer (IPO) of Indian Railway Finance Corporation (IRFC) will open today, and will culminate on Wednesday, January 20. With an aim to raise approximately Rs 4,633.4 crore, at the upper end of the price band of Rs 25-26 apiece, the state-owned entity wishes to deploy the funds towards augmenting the company’s equity capital base to meet business future growth requirements; and towards meeting general corporate purposes. According to the offer, the government (which currently holds 100 per cent stake) will execute an offer for sale (OFS) for approximately 594 million shares worth Rs 1,480 crore. Post IPO, Centre s stake will come down to 86.4 per cent. Additionally, the issue comprises of fresh issue of 1,188 million shares, aggregating to around Rs 2,970 crore.
I Power Solutions India reports standalone net loss of Rs 0 01 crore in the December 2020 quarter business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.
Read more about Nirmala Sitharaman holds pre-Budget meeting with state finance ministers on Business Standard. Finance Minister Nirmala Sitharaman on Monday held a meeting with state finance ministers who suggested steps to revive growth and boost revenue collection against the backdrop of COVID-19 crisis.
BPSC 66th Prelims 2020: Check Solved Question Paper with Answer Key- PDF Download SET A/B/C/D Papers jagranjosh.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from jagranjosh.com Daily Mail and Mail on Sunday newspapers.