IRFC IPO is going to be the first initial public offerings of 2021. In the red herring prospectus, the corporation mentioned that it aims to raise Rs 4,634 cores in the upper range by selling up to 1,782,069,000 equity shares. IRFC received SEBI approval last year in February.
Indian Railway Financing Corporation is registered with RBI as an NBFC, is the dedicated borrowing arm of the Ministry of Railway. Its primary role is to finance various projects for the railways, raise lending funds from the market, and lease rolling stock assets and infrastructure. Over the last three decades, the company played a critical role in supporting the capacity enhancement of Indian Railways by financing various projects. In Fiscal 2020, IRFC sponsored Rs 71,392 crores or 48.22 percent of Indian Railway’s annual capital expenditure.
As of September 2020, IRFC’s total AUM consisted of 55.34 percent of receivables from the leasing of rolling stock assets, 2.25 percent from loans to central public enterprises, and 42.41 percent from advances against leasing of project assets.
Key Points Of The Offer
- IRFC IPO share will launch in the price band of Rs 25-26; at face value of Rs 10 apiece
- The offer comprises 1,782,069,000 equity shares to raise Rs 4,455 – Rs 4,633 crores in the upper price band
- The three days subscription window will remain open from January 18-20
- The minimum bid size for retail investors fixed at 575 shares and investors can subscribe for 13 lots at maximum
- All retail investors applying for the IPO must make payment for the bid through UPI
How To Buy IRFC IPO Online
If you are planning to apply for IRFC IPO, you can do it directly from Angel One user console. You can submit an online application for the offer and make payment using UPI payment option. Here are the simple steps to follow for the online application of IRFC IPO.
- Log in to the user portal in Angel One website or mobile app using your login credentials. If you don’t have Angel One account, click here.
- Click on the IPO link to view the list of all open IPO options and select IRFC IPO from the list
- You will get directed to the page of IRFC IPO. Click on the ‘Bid’ option in the page
- Enter your UPI id, bid size, and amount
- Enter details and click on ‘Submit’ button to complete the application form
- A mandate request will be sent to your UPI handle. You will have to approve the payment to complete the bidding process
Investors can visit the IRFC IPO review page for more details on the IPO offer.