The initial public offering (IPO) of the Indian Railway Finance Corporation (IRFC) will be Rs 25-26 per share on January 18.
An IPO worth Rs 4,600 crore will close on January 20.
NBFC’s IPO includes Rs 178.20 crore equity shares of Rs 10 per share, including a fresh offer of 118.80 crore shares and a sale of 59.4 crore equity shares.
On Friday, the company received $ 1,390 crore from Anchor Investors.
Established in 1986, the railway’s dedicated finance division is a public sector enterprise under the administrative control of the Ministry of Railways.
The non-bank finance company (NBFC) uses the proceeds of the IPO to increase its equity capital base for future capital needs and general corporate purposes.
The list of five railway companies was approved by the government in April 2017. Among them, four companies are listed as IRCON International Limited, Rights Limited, Rail Vikas Nigam Limited and Indian Rail Catering and Tourism Corp.
“IRFC is coming up with a list of Rs 4600 crore + at a price of Rs 25-26 per share. Anchor Book on January 15th and Main Book from January 18-20,” Had done.
This issue includes the reservation of equity shares worth Rs 50 lakh for the issue. It comprises up to 13.64% of the firm’s post issue unpaid-equity equity portfolio.
It may be noted that the IRFC receives no revenue from the sale offer and is accepted by the Center.
IRFC is a dedicated finance arm of the Indian Railways and was established in 1986. It is a public sector enterprise under the administrative control of the Ministry of Railways.