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The $634 million IPO from IRFC subscribed 3 times by the end of bidding

3.09x
The qualified institutional buyer's portion was subscribed 3.6 times, and the retail investors supported the issue with a subscription of 3.4 times.
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In its anchor book opening, the company raised nearly ₹1,389 crore by allocating shares to HDFC Equity Fund, Government of Singapore, Nippon India Tax Savers Fund, among others.
Despite all the top brokerages recommending to ‘subscribe’ to the issue citing various factors from strong valuation to robust business growth — the unlisted shares saw a tepid response in the grey market. The premium declined from 7% on day one to 5% today. The shares in the grey market were commanding a premium of ₹1.10-1.20, over the issue price band of ₹25-26 per share.

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IRFC IPO Subscribed 1.22 Times On Day 2

IRFC IPO Subscribed 1.22 Times On Day 2
Jan 19 2021, 9:29 PM
January 19 2021, 3:52 PM
January 19 2021, 9:29 PM
Retail investors continue to lap up shares of Indian Railways Finance Corp., a dedicated market borrowing arm of the Indian Railways, on the second day of subscription for the initial public offering.The issue was subscribed 1.22 times as of 5:00 p.m. on Jan. 19, according to data available on the bourses. The IPO will close on Jan. 20.Subscription details:Institutional investors: 0.02 times High net worth individuals: 0.24 timesReta...
Retail investors continue to lap up shares of Indian Railways Finance Corp., a dedicated market borrowing arm of the Indian Railways, on the second day of subscription for the initial public offering.

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