Indian Railway Finance Corporation (IRFC) has informed that it has raised Rs 1,389 crore from 31 anchor investors through its Initial Public Offering (IPO).
It has announced that the IPO of the Public Sector Undertaking (PSU) firm will open for subscription on 18th January,2021 and close on 20th January, 2021, where 178 crore equity shares of the firm will be available for subscription.
The issue consists of a fresh issue of Rs 3,088 crore and an offer for sale worth Rs 1,544 crore. Investors can bid for the PSU NBFC at price band of Rs 25-26 per share, in a lot size of 575 shares, translating to Rs 14,950 per lot.
However, Qualified Institutional Buyer (QIB) portion of the IPO makes up 50% of the total issue while National Health Investors (HNIs) get 15% and retail investors get 35% of the issue to bid for.
IRFC will be the first IPO of 2021 as it looks to raise Rs 4,633 crore through a fresh issue and an offer for sale (OFS) by the President of India through the Ministry of Railways.