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Indian Railway Finance Corporation IPO Closes Today; Issue Subscribed 1.44 Times

Indian Railway Finance Corporation IPO Closes Today; Issue Subscribed 1.44 Times
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IRFC vs Indigo Paints IPO: How the two public issues fare against each other


IRFC vs Indigo Paints IPO: How the two public issues fare against each other
While the government plans to reduce its stakeholding in IRFC to 86% from 100% from the IPO, the promoter holding in Indigo Paints of 60.05% will reduce to 54%, post the issue
Rupa Burman Roy | January 20, 2021 | Updated 19:11 IST
On its third day, IRFC issue was subscribed 3.41x times. Meanwhile, Indigo Paints IPO got subscribed 1.90 times on first day of share sale
The initial public offering (IPO) of Sequoia Capital-backed Indigo Paints that opened for subscription today will be the second IPO of 2021 just after IRFC's share sale that ends today.

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IRFC IPO: IRFC IPO subscribed 80% on Day 2 so far


Synopsis
By 5:00 pm on Tuesday, the issue received bids for 152.64 crore shares, which was 122.35 per cent of the issue size of 124.75 crore shares. The issue was subscribed 65 per cent on the first day.
Agencies
IRFC is the dedicated market borrowing arm of the Indian Railways.
NEW DELHI: The Rs 4,633-crore IPO of Indian Railway Finance Corporation (IRFC) got fully subscribed on the second day of the bidding process led by strong demand from retail investors.
By 5:00 pm on Tuesday, the issue received bids for 152.64 crore shares, which was 122.35 per cent of the issue size of 124.75 crore shares. The issue was subscribed 65 per cent on the first day.

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IRFC IPO subscribed 1.22 times second day subscription bids NSE


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IRFC IPO subscribed 1.22 times on 2nd day
The initial public offer of Indian Railway Finance Corporation was subscribed 1.22 times on the second day of subscription on Tuesday. The offer received bids for 1,52,64,04,775 shares against 1,24,75,05,993 shares on offer, as per the data available with NSE. The category reserved for non institutional investors was subscribed 24 per cent and retail individual investors (RIIs) 2.33 times.
The initial public offer (IPO) is of up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore shares and an offer for sale of up to 59.40 crore shares.
Price range for the offer has been fixed at Rs 25-26 per share. At the upper end of the price band, the IPO is expected to fetch Rs 4,633 crore.

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IRFC IPO opens today: Should you subscribe to the share sale?


IRFC IPO opens today: Should you subscribe to the share sale?
Ahead of the IPO, IRFC had raised Rs 1,398.63 crores from 31 anchor investors. IRFC is issuing shares at a price band of Rs 25 to Rs 26
BusinessToday.In | January 18, 2021 | Updated 13:09 IST
KFin Technologies Private Ltd will be the registrar to the issue
The three-day initial share-sale of Indian Railway Finance Corporation (IRFC) worth Rs 4,600 crore was launched today. The first-ever IPO by a non-banking financial company (NBFC) in the public sector is being done by a dedicated market borrowing arm of the Indian Railways. The IPO will close on January 21. Price band for the IRFC IPO has been fixed at Rs 25 to Rs 26 per share.

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