IRFC IPO- First IPO Of 2021 To Open On January 18: Details Here

After a record raking up of funds through the route in the previous year, companies across sectors are gearing to tap the market momentum of record highs. And amid it, another railways company IRFC or Indian Railway Finance Corporation will open its IPO offering on January 18. The issue is slated to close on January 20, 2021.

IRFC IPO- First IPO Of 2021 To Open On January 18: Details Here

According to the red herring prospectus (RHP), the issue is of up to 178.20 crore shares, comprising a fresh issue of 59.43 crore equity shares and offer-for-sale of up to 118.80 crore shares. The price band of the issue is in the range of Rs 25-26 per share of face value of Rs 10 each. As per a dealer trading in pre-IPO unlisted share, IRFC commanded a premium of just Rs. 1.2 as against its issue price of Rs. 26 as of today.

Minimum bid size: 575 equity shares and in multiples thereafter

Reservation: 50% shall be reserved for QIBs while non-retail investors can invest a maximum of 25%.

The issues mopped up from the issue shall be put to augment the company's equity for meeting future requirement arising out of growth in business and general corporate purposes. The shares of IRFC are proposed to be listed on BSE and NSE. DAM Capital Advisors Ltd, HSBC Securities and Capital Markets (India) Private Ltd, ICICI Securities Ltd and SBI Capital Markets Ltd are the book running lead managers to the offer. While KFin Technologies Private Ltd will be the registrar to the issue.

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