Indian Railway Finance Corporation's IPO opens next week
The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC), worth over Rs 4,600 crore, will open on January 18 and close on January 20
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New Delhi: The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC), worth over Rs 4,600 crore, will open on January 18 and close on January 20. The price band of the IPO will be of between Rs 25 and Rs 26 per share.
"IRFC is coming up for listing with an over Rs 4600-crore issue in a price band of Rs 25-26 per share. Anchor book on January 15 and the Main book from January 18-20," said Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) on Twitter.
Established in 1986, the dedicated financing arm of the Indian railways is a public sector enterprise under the administrative control of the Ministry of Railways. The Non-Banking Financial Company (NBFC) would utilise the proceeds of the IPO for augmenting equity capital base to meet future capital requirements and general corporate purposes.
