Indian Railway Finance Corporation (IRFC) has decided to open its public offer for subscription on January 18, 2021 and has set the price band at Rs 25-26 per share.
The three-day public issue will open on Jan 18 and close on January 20, 2021. The company aims to raise Rs 4,633.4 crore at the higher end of the price band.
The Company has received an ‘in-principle’ approval from the BSE and the NSE for the listing of the Equity Shares
IRFC IPO Date, Price, Lots and More
| Description | Details |
|---|---|
| Public Issue | Initial Public offering of up to 1,782,069,000 Equity Shares of Rs. 10 and OFS of 594,023,000 Eq Shares of Rs 10 |
| Issue Period | Jan 18, 2021 – Jan 20, 2021 |
| Issue Type | Book Built Issue |
| IPO Price Band | Rs. 25 – 26 per equity share |
| Face Value | Rs.10 |
| Market Lot | 575 Shares |
| Minimum Order Quantity | 575 Shares |
| Listing | NSE, BSE |
| NSE Symbol | |
| IPO Market Timings | 10.00 a.m. to 5.00 p.m. |
IRFC IPO Important Details
- December 12, 1986 – Incorporated as Indian Railway Finance Corporation Limited as a public limited company
- December 23, 1986 – The Company received a certificate of commencement of business from the RoC
- February 16, 1998 – The Company was registered with RBI under Section 45-IA of the RBI Act to carry on the business of a non-banking financial institution without accepting public deposits, pursuant to a certificate of registration
- March 17, 2008 – RBI classified that the Company as a non-deposit accepting asset finance non-banking financial company.
IRFC IPO Lead Managers
- DAM Capital Advisors Limited
- HSBC Securities and Capital Markets (India) Private Limited
- ICICI Securities Limited
- SBI Capital Markets Limited
IRFC IPO Registrar
- KFin Technologies Private Limited
IRFC Registered and Corporate Office
UG-Floor, East Tower,
NBCC Place,
Bisham Pitamah Marg,
Pragati Vihar,
Lodhi Road, New Delhi – 110 003
IRFC IPO Allotment Date, Listing Date and other Important Dates
| Details | Date (Tentative) |
|---|---|
| Bid / Offer Opens on | Monday, January 18, 2021 |
| Bid / Offer Closes on | Wednesday, January 20, 2021 |
| Finalisation of Basis of Allotment | On or about Monday, January 25, 2021 |
| Initiation of refunds | On or about Wednesday, January 27, 2021 |
| Credit of the Equity Shares | On or about Thursday, January 28, 2021 |
| Commencement of trading – Listing | On or about Friday, January 29, 2021 |
IRFC IPO DRHP & RHP
- Draft Red Herring Prospectus
- Red Herring Prospectus
Objects of the Issue
The Net Proceeds are proposed to be utilised towards funding of the following objects:
(1) Augmenting our equity capital base to meet our future capital requirements arising out of growth in our business; and
(2) General corporate purposes.
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About IRFC
IRFC is the dedicated market borrowing arm of the Indian Railways. The primary business is financing the acquisition of rolling stock assets, which includes both powered and unpowered vehicles, for example locomotives, coaches, wagons, trucks, flats, electric multiple units, containers, cranes, trollies of all kinds and other items of rolling stock components as enumerated in the Standard Lease Agreement (collectively, “Rolling Stock Assets”), leasing of railway infrastructure assets and national projects of the Government of India (collectively, “Project Assets”) and lending to other entities under the Ministry of Railways, Government of India
(“MoR”).
The MoR is responsible for the procurement of Rolling Stock Assets and for the improvement, expansion and maintenance of Project Assets. IRFC is responsible for raising the finance necessary for such activities. Over the last three decades IRFC played a significant role in supporting the capacity enhancement of the Indian Railways by financing a proportion of its annual plan outlay.
The Union Budget proposed a capital expenditure of ₹ 1,610 billion for the Indian Railways for Fiscal 2021, which was higher than the capital expenditure of ₹ 1,480.64 billion in Fiscal 2020 (Source: Ministry of Railways).
The outlay for Fiscal 2021 comprises ₹ 702.50 billion from gross budgetary support, ₹ 75 billion from internal resources and ₹ 832.92 billion from extra budgetary resources (“EBR”). (Source: Ministry of Railways) In Fiscal 2020, we financed ₹ 713.92 billion accounting for 48.22% of the actual capital expenditure of the Indian Railways
IRFC IPO – FAQs
When IRFC IPO will open ?
The IRFC IPO opens on Jan 18, 2021 and closes on Jan 20, 2021
What is the lot size of IRFC IPO ?
IRFC IPO lot size is 575 Shares and the minimum order quantity is 575 Shares.
What is the price band for IRFC IPO
The IRFC price band at Rs 25-26 per share
Who is the Registrar for IRFC IPO ?
The Registrar is KFin Technologies Private Limited (formerly known as “Karvy Fintech Private Limited”)