IRFC IPO Allotment: The IPO of the finance company Indian Railway Finance Corporation (IRFC) has received a strong response from investors. This IPO has been subscribed 3.49 times. IRFC had issued 124 crore equity shares for this IPO, while it has received bids for 435 crore equity shares. For the time being after this response, now those investors who have invested money in it will be focused on share allocation. Allotment of shares for the IPO of IRFC is to be finalized on 25th January i.e. Monday. If you have to check allotment, then you can find out whether you got a share by going to both the registrar and BSE website.
Plan to raise 4600 crores
The IPO was open for investment from January 18 to January 20. IRFC plans to raise Rs 4600 crore from the market. The company had fixed the price band for the IPO at Rs 25-26 per share. Experts are also forming a positive opinion about this IPO.
Which part how much subscribe
The IPO has subscribed 3.78 times the reserve position for qualified institutional buyers and 2.67 times the reserve position for non-institutional investors. At the same time, Reserve Porson has received 3.66 times of bids for retail investors. Railway employees have subscribed to it 43.73 times.
According to the information submitted by the Indian Railway Finance Corporation to the market regulator Sebi, the company will finalize the share allotment on next week i.e. January 25. Investors who will be allotted shares in this IPO, shares will be issued on January 28 in their Demat account. At the same time, those people who will not get shares, their money will be returned to the account on January 27. The listing of IRFC will be done on 29 January.
How to check the status?
Option 1: From BSE website
For this, first you have to go to the BSE website.
After that the equity box has to be checked.
Then you have to enter the name of the issue in the dropdown.
After that you have to type your application number in the box.
After that you will have to provide information about your PAN number.
Finally, you have to click on the search button, after which the complete information will be revealed.
Option 2: On the registrar’s website
ASBA is the registrar for this issue.
The registrar for this IPO will have to go to the website of ASBA.
Select the IPO of Indian Railway Finance Corporation on the website.
If entering the application number, select ASBA or NON-ASBA in the application type and enter the application number.
If entering DPID or Client ID, select NSDL or CDSL in the depository and enter DPID or Client ID.
If selecting PAN, enter PAN number and select it.
Note – If you do allot, then the status will be visible.
About the company
IRFC was formed in 1986 and acts as a dedicated financial arm for the Indian Railways. The company also raises funds for the railway from domestic and foreign markets. Extra budgetary expenses for the railways are arranged by the company. The schedule is an ‘A’ listed company under the IRFC Ministry of Railways. In 2017, the Union Cabinet had approved 4 more companies related to IRFC and Railways to be listed in the market.
Strategic role in the growth of Indian Railways
Strong credit rating: CRISIL: AAA / A1 + and ICRA: AAA / A1 +.
Strong Financial Performance and Sound Asset Liability Management
Experienced management team