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IRFC IPO - Indian Railway Finance Corporation IPO January 17 2021IRFC IPO, Indian Railways IPO

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IRFC IPO Date, Price, GMP, Review, Analysis & Details

There are at least 15 IPOs scheduled for 2021, of which six are likely to take place in January. On January 18, the State-owned Indian Railway Finance Corporation (IRFC) has planned to initiate its first public subscription offer and has set the price range at approximately Rs 25-26 per share.

The three-day public issue will end on January 20. At the higher end of the price band, the company intends to collect Rs 4,633.4 crore and at the lower end, RS 4,455 crore. A new issue of 1,18,80,46,000 equity shares and an offer from the Government of India to sell 59,40,23,000 equity shares constitute the initial public offer of up to 1,78,20,69,000 equity shares.


IRFC shares were seen trading in the grey market with a muted premium of Rs 1.60 per piece over the issue price. This is the first public issue for a railway non-banking finance company (NBFC).

The issue involves a reservation for subscription by qualifying employees of equity shares worth Rs 50 lakh. The issue would represent up to 13.64% of the company's paid-up equity share capital after issue. Bids can be initiated for a minimum of 575 shares of equity and for multiples of 575 shares.

IRFC is registered as an NBFC with the Reserve Bank of India and is listed under the group of Reserve Bank of India Act as ''Infrastructure Finance Company''.

IRFC defines itself as the Indian Railway’s dedicated market borrowing arm, registered as NBFC with the RBI. Its core business is funding the purchase of Indian Railway’s rolling stock assets and project assets and lending to other entities under MoR.  

No proceeds from the sale will be received by the corporation and the Government of India will receive the same. Up to 50% of the net bid will be confined for qualified institutional buyers (QIBs), 35% for retail investors and 15% for non-institutional buyers. 

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