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IRFC manages to raise Rs 1,389 crore from 31 anchor investors ahead of IPO Kshitij Bhargava © Provided by The Financial Express Government of Singapore was the largest investors among foreign institutions, buying 16.39% of the anchor investor portion for Rs 235 crore. Days ahead of its initial public offering (IPO) Indian Railway Finance Corporation (IRFC) has managed to raise Rs 1,389 crore from 31 anchor investors. IRFC informed the bourses that it has allocated 53.45 crore equity shares at Rs 26 per share on Friday to anchor investors. The IPO of the PSU firm opens for subscription on Monday, where 178 crore equity shares of the firm will be available for subscription. 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.

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