IRFC IPO Subscription Status
IRFC IPO worth Rs 4600 crore is open for subscription during Jan 18- Jan 20 at a price band of Rs 25-Rs 26 per equity share. Investors can apply for minimum lot size of 575 shares (Rs 14950). Post issue the promoter holding (Govt. of India) would reduce to 85%.
IRFC raised Rs 1398 crore from the anchor investors. The anchor investors include:
HDFC Trustee Company Ltd IRFC IPO Subscription Status
Nippon Life India Trustee Ltd, Government of Singapore
Monetary Authority of Singapore
Kuwait Investment Authority Fund
Kotak Mahindra (International) Ltd
Goldman Sachs (Singapore) PTE
Tata AIG General Insurance Co Ltd and Aditya Birla Sun Life Insurance Co Ltd.
| Subscription Status (no. of times (x)) | ||||
|---|---|---|---|---|
| Particulars | Shares Offered | 18th Jan | 19th Jan | 20th Jan |
| QIB | 356,375,339 | 0.00 | 0.00 | 3.78 |
| NII | 267,281,504 | 0.09 | 0.24 | 2.67 |
| Retail | 623, 656, 843 | 1.25 | 3.32 | 3.66 |
| Employees | 192,307 | 12.68 | 27.40 | 43.76 |
| Total | 1,247,505,993 | 0.64 | 1.22 | 3.49 |
| IRFC IPO Allotment and Listing | |
|---|---|
| Basis of Allotment | 25th Jan 2021 |
| Refunds | 27th Jan 2021 |
| Credit to Demat Account | 28th Jan 2021 |
| Listing Date | 29th Jan 2021 |
IRFC raises funds to meet the capex requirements of Indian Railways. The company benefits because of its direct dealings with the Central Govt, with very low risk of defaults and payment delays. margins are determined at the end of each fiscal by MoR (Ministry of Railways). Key risks for the company could be lowering of margins by the MoR, a cut in the railway infrastructure spends by the government and privatisation of the railway network.
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