IRFC IPO subscribed 24% within 90 minutes of bidding process

Synopsis
By 5:00 pm, the issue received bids for 808.9 million shares, which was 64.8 per cent of the total issue size of 1,247.5 million shares. Ahead of the IPO, IRFC said on Saturday that it had raised Rs 1,398.63 crore from 31 anchor investors. The issue will close for subscription on January 20.
Agencies
On the other hand, interest from qualified institutional investors remained low as only around 50,000 shares were subscribed out of 356.37 million shares allotted for them.
MUMBAI: Indian Railway Finance Corporation's IPO took off to a strong note today, with the Rs 4,633-crore issue attracting 65 per cent bids on the first day.
By 5:00 pm, the issue received bids for 808.9 million shares, which was 64.8 per cent of the total issue size of 1,247.5 million shares. Ahead of the IPO, IRFC said on Saturday that it had raised Rs 1,398.63 crore from 31 anchor investors. The issue will close for subscription on January 20.

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