IRFC IPO allotment today: Guides to Check Status, Listing Date, Allotment of Shares
|IRFC IPO today. Photo: Finshots|
The allotment of shares in IRFC IPO will be finalised today, according to the website of the issue's registrar KFin Technologies Private Limited, which will manage share allocation and refund.
How to Check Status
Investors can check the website of KFin Technologies to check the allotment status. According to brokerages, the listing could happen on 29th January. Investors can also check the allotment status on the BSE website. It is the first IPO by a non-banking financial company (NBFC) in the public sector, according to Live Mint.
IRFC is a dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas markets. Post-IPO, the shareholding of government will come down to 86.4 percent from 100 percent earlier.
The price range of the offer was fixed at Rs 25 to Rs 26 per share. Ahead of the IPO, IRFC had raised about Rs 1,400 crore from anchor investors. Furthermore, the initial public offer of up to 178.20 crore shares, comprised a fresh issue of up to 118.80 crore shares and an offer for sale of up to 59.40 crore shares.
Here's how to check on BSE, notes First Post:
Step 1: Go to the website bseindia.com.
Step 2: Once there, select 'Equity' and then from the dropdown, select issue name 'Indian Railway Finance Corporation'.
Step 3: Enter the application number and PAN card number.
Step 4: Click on the Search button.
Here's how to check on KFin Technologies website:
Step 1: Go to the website kfintech.com.
Step 2: Once there, select IPO name from the dropdown.
Step 3: Enter Application Number or DP ID/ Client ID or PAN.
Step 4: For the Application number, select application type and 'Enter Application Number'.
Step 5: In case of DP ID/ Client ID, select Depository 'NSDL or CSDL' and enter 'DP ID/ Client ID'.
Step 6: Enter the captcha and submit.
The status will only appear after allotment if the details are entered correctly. In the case of non-allotment, the blocked amount will be refunded to your bank account.
The issue was subscribed 3.5 times with the retail individual investor's segment 3.66 times while Qualified Institutional Buyers (QIBs) category 3.78 times and non-institutional investors 2.67 times. The offer received bids for 4,35,22,57,225 shares against 1,24,75,05,993 shares on offer.
|Photo: The Indian Express|
After the IPO, the shareholding of the government will come down to 86.4 percent, from 100 percent earlier.
The price range for the offer was fixed at Rs 25-26 per share. Ahead of the IPO, IRFC had raised about Rs 1,400 crore from anchor investors.
IRFC is a dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas markets.
IRFC listing date
As per the exchange, the IPO share allotment process takes six working days from the issue closing date. The IRFC IPO opened for bidding on Jan 18 and closed on January 20, says Indian TV News.
Once the finalization is done, the credit of equity shares will start on January 28. The listing is scheduled for January 29 and equity shares will be listed on both the exchanges — BSE and NSE. The refunds will start from January 27.
IRFC grey market premium
The grey market premium of IRFC shares had fallen to Rs 0.60-0.65 from Re 1 last week.
IRFC was the first initial public offer in 2021 and the first-ever IPO by a non-banking financial company in the public sector.
Meanwhile, the government will get Rs 1,544 crore from the IPO of IRFC. IRFC IPO had a total size of Rs 4,633 cr of which IRFC would get two-thirds of the proceeds and the government one third (Rs 1,544 cr). Against a number of Rs, 3,244 cr to be raised (ex-anchor) bids of more than Rs 11,200 cr has been received.
So far in the current fiscal, the government has mopped up Rs 15,220 crore from disinvestment and share buyback.
The budgeted disinvestment mops up for the current fiscal is Rs 2.10 lakh crore. Of this Rs 1.20 lakh crore is to come from minority stake sale in CPSEs and Rs 90,000 crore from stake sale in state-owned financial institutions.
More about IRFC
Incorporated in 1986, the Indian Railway Finance Corporation (IRFC) is a public-sector enterprise that is wholly-owned by the Government of India. IRFC is primarily engaged in financing the acquisition of rolling stock assets, leasing of railway infrastructure assets, and lending to entities under the Ministry of Railways (MoR). Being the borrowing arm of Indian Railways, IRFC is responsible to raise funds for MoR that is required to procure rolling stock assets (wagons, trucks, electric multiple units, locomotives, coaches), its improvement, expansion, and assets management.
|Photo: India TV News|
It follows a financial leasing model to finance rolling stock assets procurement for a lease period of 30 years. In fiscal 2019, the actual capital expenditures by the Indian Railways were Rs. 1,334 billion, out of which, IRFC financed Rs. 525.35 bn accounting for 39.34% expenditures.
Strategic role in Indian Railways growth.
Sound credit rating i.e. CRISIL AAA/A1+ and ICRA AAA/A1+.
Competitive cost of borrowing.
Strong financial performance.
Sound asset-liability management.
Experienced management team.
The President of India acting through the Ministry of Railways (MoR) is the promoter of the company.
For the year/period ended (Rs in million)
Profit After Tax
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