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IRFC IPO is a book built issue of Rs 4,633.38 crores. The issue is a combination of fresh issue of 118.8 crore shares and offer for sale of 59.4 crore shares.
IRFC IPO bidding started from January 18, 2021 and ended on January 20, 2021. The allotment for IRFC IPO was finalized on Monday, January 25, 2021. The shares got listed on BSE, NSE on January 29, 2021.
IRFC IPO price band is set at ₹25 to ₹26 per share. The minimum lot size for an application is 575 Shares. The minimum amount of investment required by retail investors is ₹14,950.
Hsbc Securities & Capital Markets Pvt Ltd, ICICI Securities Limited, Idfc Bank Limited and SBI Capital Markets Limited are the book running lead managers of the IRFC IPO, while Kfin Technologies Limited is the registrar for the issue.
Refer to IRFC IPO RHP for detailed information.
| IPO Date | January 18, 2021 to January 20, 2021 |
| Listing Date | January 29, 2021 |
| Face Value | ₹10 per share |
| Price Band | ₹25 to ₹26 per share |
| Lot Size | 575 Shares |
| Total Issue Size | 1,782,069,000 shares (aggregating up to ₹4,633.38 Cr) |
| Fresh Issue | 1,188,046,000 shares (aggregating up to ₹[.] Cr) |
| Offer for Sale | 594,023,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE, NSE |
| Share holding pre issue | 11,880,460,000 |
| Share holding post issue | 13,068,506,000 |
IRFC IPO offers 1,247,505,993 shares. 356,375,339 (28.57%) to QIB, 267,281,504 (21.43%) to NII, 623,656,843 (49.99%) to RII, 192,307 (0.02%) to employees. 1,084,620 RIIs will receive minimum 575 shares and (sNII) and (bNII) will receive minimum 8,050 shares. (in case of oversubscription)
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| Anchor Investor Shares Offered | - | NA |
| QIB Shares Offered | 356,375,339 (28.57%) | NA |
| NII (HNI) Shares Offered | 267,281,504 (21.43%) | |
| Retail Shares Offered | 623,656,843 (49.99%) | 1,084,620 |
| Employee Shares Offered | 192,307 (0.02%) | NA |
| Total Shares Offered | 1,247,505,993 (100%) |
IRFC IPO opens on January 18, 2021, and closes on January 20, 2021.
| IPO Open Date | Monday, January 18, 2021 |
| IPO Close Date | Wednesday, January 20, 2021 |
| Basis of Allotment | Monday, January 25, 2021 |
| Initiation of Refunds | Wednesday, January 27, 2021 |
| Credit of Shares to Demat | Thursday, January 28, 2021 |
| Listing Date | Friday, January 29, 2021 |
| Cut-off time for UPI mandate confirmation | 5 PM on January 20, 2021 |
Investors can bid for a minimum of 575 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 575 | ₹14,950 |
| Retail (Max) | 13 | 7475 | ₹194,350 |
| Lot Size Calculator | |||
The President of India acting through the Ministry of Railways (MoR) is the promoter of the company.
| Share Holding Pre Issue | 100% |
| Share Holding Post Issue | 86% |
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
| Particulars | For the year/period ended (Rs in million) | |||
|---|---|---|---|---|
| 30-Sep-20 | 31-Mar-20 | 31-Mar-19 | 31-Mar-18 | |
| Total Assets | 29,19,865.81 | 27,55,041.29 | 20,64,382.95 | 16,14,510.41 |
| Total Revenue | 73,848.29 | 1,34,210.90 | 1,09,873.55 | 92,078.39 |
| Profit After Tax | 18,868.41 | 31,920.96 | 21,399.33 | 20,014.60 |
The net IPO proceeds are proposed to be utilized for the following objects:
[Dilip Davda] The issue is priced attractively by a dividend-paying PSU. It is likely to get fancy post listing being the first mover in the segment. Investors may consider investment for long term rewards as this company is laying its future on track and poised for better growth going forward. Read detail review...
The IRFC IPO is subscribed 3.49 times on January 20, 2021 7:49:00 AM. The public issue subscribed 3.66 times in the retail category, 3.78 times in the QIB category, and 2.67 times in the NII category. Check Day by Day Subscription Details (Live Status)
Application Wise IPO Subscription (Retail): 2551325 times
| Category | Subscription (times) |
|---|---|
| QIB | 3.78 |
| NII | 2.67 |
| Retail | 3.66 |
| Employee | 43.76 |
| Total | 3.49 |
| Listing Date | January 29, 2021 |
| BSE Script Code | 543257 |
| NSE Symbol | IRFC |
| ISIN | INE053F01010 |
| Final Issue Price | ₹26 per share |
| Price Details |
|---|
| Final Issue Price |
| Open |
| Low |
| High |
| Last Trade |
| BSE |
|---|
| ₹26.00 |
| ₹25.00 |
| ₹24.30 |
| ₹25.80 |
| ₹24.85 |
| NSE |
|---|
| ₹26.00 |
| ₹24.90 |
| ₹24.35 |
| ₹25.80 |
| ₹24.80 |
Indian Railway Finance Corporation Limited
UG-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
Kfin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://kosmic.kfintech.com/ipostatus/
IRFC IPO is a main-board IPO of 1,782,069,000 equity shares of the face value of ₹10 aggregating up to ₹4,633.38 Crores. The issue is priced at ₹25 to ₹26 per share. The minimum order quantity is 575 Shares.
The IPO opens on January 18, 2021, and closes on January 20, 2021.
Kfin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in IRFC IPO using UPI as a payment gateway. Zerodha customers can apply in IRFC IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IRFC IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IRFC IPO opens on January 18, 2021 and closes on January 20, 2021.
IRFC IPO lot size is 575 Shares, and the minimum amount required is ₹14,950.
You can apply in IRFC IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Nuvama, ICICI Bank, HDFC Bank and SBI Bank.
The finalization of Basis of Allotment for IRFC IPO will be done on Monday, January 25, 2021, and the allotted shares will be credited to your demat account by Thursday, January 28, 2021. Check the IRFC IPO allotment status.
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