Investors are spoilt for choice as companies are flocking the primary market to materialise their listing plans to cash in on the boom in the secondary market. January, especially, is proving to be a busy month as the IPO of Indian Railway Finance Corporation (IRFC) closed for subscription today. The IPO of Indigo paints, however, opened today while that of Home first finance will open tomorrow. Confused about which one to subscribe and which to miss? The price band of Indigo paints has been fixed at Rs 1,488-1,490 per share for the initial share sale. Mortgage financier Home First Finance Company has fixed a price band of Rs 517-518 a share for its initial share-sale.
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IRFC, Indigo Paints IPOs to hit market this week, eye over Rs 5,800 cr
Two companies Indian Railway Finance Corporation and Sequoia Capital-backed Indigo Paints are set to hit the market with their initial share-sale offers this week to raise an estimated over Rs 5,800 crore. The companies are expecting to benefit from an equity market, which is flush with liquidity and has seen a sharp increase in new retail investors.
The three-day initial share-sale of Indian Railway Finance Corporation (IRFC) would be open for public subscription during January 18-20, while the IPO of Indigo Paints would open on January 20 and conclude on January 22. IRFC IPO comprises up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore and offer-for-sale of up to 59.40 crore shares by the government.