IRFC IPO: The state-owned Indian Railways Finance Corporation (IRFC) opened its first public offer for membership on January 18, 2021, priced at Rs 25–26 per share. The initial public offer (IPO) of Rs 4,633.4 crore has become the first public issue for calendar year 2021. The price band of the issue is in the range of Rs 25-26 per share, with a face value of Rs 10 each. The three-day public issue will close on January 20, 2021. The initial public offering of 1,78,20,69,000 equity shares includes 1,18,80,46,000 equity shares and an offer for sale. 59,40,23,000 equity shares by Govt.
Bidding for the issue can be made in at least 575 equity shares and multiples thereafter. The shares are proposed to be listed on BSE and NSE. The date of the IRFC IPO listing has not yet been announced.
The Indian Railway Finance Corporation was incorporated in 1986 and is a public sector enterprise owned by the Central Government. IRFC is primarily engaged in acquisition of rolling stock assets, leasing of railway infrastructure assets and lending to entities under the Ministry of Railways. IRFC, being the financing arm of Indian Railways, is responsible for raising funds from the domestic or foreign market for the Ministry of Railways, which is required to obtain rolling stock assets such as wagons, trucks, electric multiple units, locomotives, coaches, etc. Improvement, with detail. , As well as asset management.
The primary objective of IRFC is to meet the major part of Indian Railways’ need for extra-budgetary resources through market borrowings at the most competitive rates and conditions.