IRFC Files Draft Papers For IPO

Indian Railway Finance Corporation (IRFC) has filed draft papers with SEBI for floating an IPO issue. As per draft red herring prospectus, the public issue is of up to 140,70,69,000 equity shares of which up to 93,80,46,000 equity shares are fresh issue, and up to 46,90,23,000 equity shares are offer for sale.

IRFC Files Draft Papers For IPO

The money garnered through the IPO is proposed to be put to increasing the company's equity for meeting future capital needs due to business growth as well as general corporate purposes.

IDFC Securities, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets are the book running lead managers to the issue.

The shares of the company are proposed to be listed on the BSE and the NSE.

The company formed to be the dedicated borrowing unit of the behemoth carrier Indian railways has played a crucial role in financing its operations.

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