IRFC share lists at 4% discount to issue price
IRFC share allotment was finalised on January 25. Government s stakeholding reduced to 86% from 100% post the IPO. Most brokerages have given IRFC subscribe rating, especially for the long term
BusinessToday.In | January 29, 2021 | Updated 11:46 IST
Set up in 1986, IRFC- a dedicated market borrowing arm of the Indian Railways, became the first NBFC from the PSU sector that went public today
Shares of Indian Railway Finance Corporation (IRFC) listed at a 4% discount from its issue price at Rs 24.90 on NSE today.
IRFC share made its debut at Rs 25 on BSE, declining 3.85% apiece.
The initial public offer (IPO) of the company that was open between January 18-20, 2021, at a price band of Rs 25-26 per share, was subscribed nearly 3.5 times. It received bids for 432 crore shares against the issue size of 124.75 crore. Ahead of the IPO, IRFC had raised about Rs 1,400 crore from anchor investors.
The public issue was subscribed 3.49 times during January 18-20 as retail investors reserved portion witnessed a subscription of 3.66 times, qualified institutional buyers (3.78 times) and non-institutional investors (2.67 times).
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