IRFC (Indian Railway Finance Corporation) has filed papers with markets regulator Sebi to float an initial public offering (IPO) of over 178 crore shares. According to an addendum to the draft red herring prospectus filed with Sebi on Friday, the IPO would see sale of 1,782,069,000 equity shares. This includes a fresh issue of 1,188,046,000 equity shares and an offer for sale of 59.4 crore equity shares by the Government of India.
Indian Railway Finance Corporation (IRFC) was set up in 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets. IRFC is a schedule 'A' Public Sector Enterprise under the administrative control of the Ministry of Railways, Government of India. It is also registered as Systemically Important Non–Deposit taking Non Banking Financial Company (NBFC - ND-SI) and Infrastructure Finance Company (NBFC- IFC) with Reserve Bank of India (RBI). IRFC has played a significant role in supporting the expansion of the Indian Railways and related entities by financing a significant proportion of its annual plan outlay. Stay tuned for IRFC IPO date, price band and market lot details.
Read Also: IRFC IPO GMP ( Grey Market Premium )
IRFC IPO Category-wise Break up:
- Anchor: 53,45,63,010 Shares = 1,389.86 Crores
- QIB: 35,63,75,340 Shares = 926.58 Crores
- NII: 26,72,81,505 Shares = 694.93 Crores
- RII: 62,36,56,845 Shares = 1621.51 Crores (Lot size: 575 = 10,84,621 Forms)
- Empl. Quota: 1,92,300 Shares = 00.50 Crores
- Total Issue: 1,78,20,69,000 Shares = 4,633.38 Crores
IRFC IPO Date & Price Band:
| Issuer | Indian Railway Finance Corporation |
| Issue Type | Book Built Issue IPO |
| Issue Period | Issue Opens: January 18, 2021 |
| Issue Closes: January 20, 2021 | |
| Price Brand | ₹25 to ₹26 Per Share |
| Issue Size | ₹4600 Crores (Approx.) |
| Face Value | Rs.10 per Equity Share |
| Market Lot | 575 Shares |
| Maximum Bid amount for Retail | Rs. 2 Lakhs |
| QIB | 50% of the issue size |
| NIB | 15% of the issue size |
| Retail Individual Bidders | 35% of the issue size |
| Offer for Sale | ₹1500 Cr |
| Fresh Issue | ₹3100 Cr |
| Listing at | NSE & BSE |
IRFC IPO Tentative Timetable
The IRFC IPO open date is , and the close date is . The issue may list on .
| IPO Open Date | 18 Jan , 2021 |
| IPO Close Date | 20 Jan , 2021 |
| Basis of Allotment Date | 25 Jan , 2021 |
| Initiation of Refunds | 27 Jan , 2021 |
| Credit of Shares to Demat Account | 28 Jan , 2021 |
| IPO Listing Date | 29 Jan , 2021 |
IRFC IPO Market Lot:
| Minimum Lot Size: | Minimum 575 Shares |
| Minimum Amount: | ₹14,950 |
| Maximum Lot Size: | Maximum 7475 Shares |
| Maximum Amount: | ₹1,94,350 |
IRFC Company Financial:
| Particulars | For the year/period ended (₹ in million) | |||
|---|---|---|---|---|
| 30-Sep-19 | 31-Mar-19 | 31-Mar-18 | 31-Mar-17 | |
| Total Assets | 2,383,664.55 | 2,066,036.09 | 1,614,684.08 | 1,287,503.84 |
| Total Revenue | 66,612.93 | 111,335.94 | 92,683.81 | 80,137.90 |
| Profit After Tax | 17,147.96 | 22,546.61 | 20,490.86 | 9,211.71 |
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How to apply the IRFC IPO? You can apply IRFC IPO via ASBA available in your bank account. Just go to the online bank login and apply via your bank account by selecting the IRFC IPO in the Invest section. The other option you can apply IRFC IPO via IPO forms download via NSE and BSE. Check out the IRFC forms - click NSE Forms & BSE Forms blank IPO forms download, fill and submit in your bank or with your broker.
About IRFC:
Incorporated in 1986, the Indian Railway Finance Corporation (IRFC) is a public-sector enterprise that is wholly-owned by the Government of India. IRFC is primarily engaged in financing the acquisition of rolling stock assets, leasing of railway infrastructure assets, and lending to entities under the Ministry of Railways (MoR). Being the borrowing arm of Indian Railways, IRFC is responsible to raise funds for MoR that is required to procure rolling stock assets (wagons, trucks, electric multiple units, locomotives, coaches), its improvement, expansion, and assets management.
It follows a financial leasing model to finance rolling stock assets procurement for a lease period of 30 years. In fiscal 2019, the actual capital expenditures by the Indian Railways were Rs. 1,334 billion, out of which, IRFC financed Rs. 525.35 bn accounting for 39.34% expenditures.
Competitive strengths
- Strategic role in Indian Railways growth.
- Sound credit rating i.e. CRISIL AAA/A1+ and ICRA AAA/A1+.
- Competitive cost of borrowing.
- Strong financial performance.
- Sound asset-liability management.
- Experienced management team.
IRFC IPO Prospectus
- IRFC DRHP
- IRFC RHP
- IRFC DRHP
- IRFC RHP
IRFC Company Promoters:
- THE PRESIDENT OF INDIA ACTING THROUGH THE MINISTRY OF RAILWAYS, GOVERNMENT OF INDIA
IRFC IPO Registrar:
Selenium Building, Tower-B, Plot No 31 & 32,Financial District,Nanakramguda, Serilingampally,Rangareddi, Telangana India - 500 032.Phone: 1-800-3454001Email: einward.ris@kfintech.comWebsite: https://karisma.kfintech.com/
IRFC IPO Lead Managers:
- HSBC Securities & Capital Markets Pvt Ltd
- ICICI Securities Limited
- IDFC Bank Limited
- SBI Capital Markets Limited
IRFC Company Address:
Indian Railway Finance Corporation LimitedUG-Floor, East Tower, NBCC Place
Bisham Pitamah Marg, Pragati Vihar, Lodhi Road
New Delhi - 110 003
Phone: 91 (11) 2436 9766
Email: dgmcs@irfc.nic.in
Website: http://www.irfc.nic.in
IRFC IPO FAQs:
1. When IRFC IPO will open for Anchor Investors?
The Anchor Investors bidding is 15 January 2021.
2. When IRFC IPO will open for QIB, NII, and Retail?
The IPO to open on 18 January 2021 for QIB, NII, and Retail Investors.
3. What is IRFC IPO Investors Portion?
The investors' portion for QIB-50%, NII-10%, and Retail-35%.
4. How to Apply the IRFC IPO?
You can apply IRFC IPO via ASBA online via your bank account. You can apply ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form.
5. What is IRFC IPO Allotment Date?
IRFC IPO allotment date is 25 January 2021. You can check IPO allotment here.
