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.
Synopsis
Most brokerages say the IRFC IPO is attractively priced and can be a good bet for conservative long-term investors, given the company s low-risk profile and consistent earnings visibility.
Agencies
The IPO of IRFC the dedicated market borrowing arm of the Indian Railways includes a fresh issue of up to 1,188,046,000 shares.
NEW DELHI: The Rs 4,633-crore IPO of Indian Railway Finance Corporation (IRFC) kicked off on Monday. Most brokerages advised investors to subscribe to the issue with a long-term investment horizon.
They said the IPO is attractively priced and can be a good bet for conservative long-term investors, given the company s low risk profile and consistent earnings visibility. That said, expansion drivers for return on equity (RoE) or margins are missing, analysts said. They expect good returns from the stock only in the long run.
NEW DELHI: The Rs 4,633 crore IPO by Indian Railway Finance Corporation (IRFC), hitting on Monday, has many brokerages recommending subscribe on it with long-term gains.
Analysts said the IPO looks attractively priced and can be a good bet for conservative long-term investors, as expansion drivers for return on equity (RoE) or margins are missing, even as the company is seen reporting consistent growth numbers.
Choice Broking said that valuation at price to book value (P/BV) of 1 time looks attractive for long-term conservative investors, considering the company’s strong profitability growth of 26.3 per cent during FY18-FY20, double-digit return on equity (RoE) of 12.2 per cent in FY21 and low risk profile of the business with zero gross non-performing assets (NPAs).
Antony Waste Handling Cell Jumps 56%: What Should Investors Do? moneycontrol.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from moneycontrol.com Daily Mail and Mail on Sunday newspapers.
Antony Waste Handling Cell is expected to make a decent debut on the exchanges on Friday, January 1, riding on the underlying bullish sentiment in the market but may fail to match up to the listing euphoria witnessed by some of its predecessors such as Burger King India or Mrs Bectors Food. Shares of Antony Waste Handling were trading at a grey market premium (GMP) of Rs 100-120, up 31-38 per cent, in the unlisted market over the issue price of Rs 315, according to analysts. The debut, they say, may invite tepid response from investors and may not match up to the stellar listing gains given by Burger King and Mrs Bectors.