Updated: January 26, 2021 4:53:46 pm
IRFC IPO allotment status: The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC) was met 3.49 times subscription over the 124.75 crore shares offered during the subscription period from January 18-20, 2021. The price band was fixed at Rs 25-26 per share.
IRFC IPO received bids of over 435.32 crore (4,35,32,61,750) shares against the total issue size of 124.75 crore (1,24,75,05,993) shares, data available with the National Stock Exchange (NSE) showed.
The shares which are to be allocated for the qualified institutional buyers (QIBs) was subscribed 3.78 times, while those of non institutional investors was subscribed 2.67 times and that of retail individual investors (RIIs) was subscribed 3.66 times. Separately, shares for the employees segment was subscribed a whopping 43.76 times, the data showed.
The company’s primary objective is to meet the predominant portion of “extra budgetary resources” requirement of the Indian Railways through market borrowings at the most competitive rates and terms.
Investors are now looking forward to the share allotment date of the IRFC IPO. The dedicated financing arm of the Indian Railways was initially supposed to finalise the allotment by Monday, January 25, 2021. However, the registrar’s website now shows that the shares will be allotted on Wednesday, January 27, 2021. In case you have applied for the IRFC IPO, then here is how you can check the status of your allotment when it gets declared:
- The allotment status will get updated on the website of the registrar of the IPO, which in this case is KFin Technologies (Click here: https://ris.kfintech.com/ipostatus/ipos.aspx). Applicants will need to select INDIAN RAILWAY FINANCE CORPORATION LIMITED in the drop-down menu and enter either their Application No. or DPID/Client ID or PAN, enter the Captcha code (which is shown in digits) and click on Submit to view their allotment status.
- Apart from the registrar’s website, applicants can also check the status of their allotment on the website of the BSE (Click here: https://www.bseindia.com/investors/appli_check.aspx). Here, they will need to select Equity in Issue Type, then select INDIAN RAILWAY FINANCE CORPORATION LTD from the drop-down list in the Issue Name section, enter their Application Number and PAN Number in the respective boxes and then click on search to view their status.
The listing of shares of IRFC is likely to take place on January 29, 2021, on both the NSE and BSE. The issue size of the IPO was Rs 4,633 crore. Before heading into the IPO, the company raised Rs 1,390 crore from its anchor investors.
DAM Capital Advisors (formerly known as IDFC Securities), HSBC Securities and Capital Markets (India), ICICI Securities, SBI Capital Markets were the managers to the offer.
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