IRFC IPO share allotment finalised: How to check application status1 min read . Updated: 27 Jan 2021, 01:19 PM IST
- IRFC IPO was subscribed nearly 3.5 times
- IRFC shares are likely to get listed on 29th January
The allotment of shares in IRFC IPO has been finalised according to the website of the issue's registrar KFin Technologies Private Limited, which will manage share allocation and refund. Investors can check the website of KFin Technologies to check the allotment status. According to brokerages, the listing could happen on 29th January. Investors can also check the allotment status on BSE website. It is the first IPO by a non-banking financial company (NBFC) in the public sector.
The initial public offer of Indian Railway Finance Corporation Limited (IRFC) was subscribed nearly 3.5 times. The ₹4,633 crore IPO of IRFC had opened on 18th January and closed on 20th January. Post IPO, the shareholding of government will come down to 86.4%, from 100% earlier.
IRFC is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets.
The offer received bids for 4,35,22,57,225 shares against 1,24,75,05,993 shares on offer. The retail individual investors segment was subscribed 3.66 times while Qualified Institutional Buyers (QIBs) category 3.78 times and non-institutional investors 2.67 times.
Price range for the offer was fixed at ₹25-26 per share. Ahead of the IPO, IRFC had raised about ₹1,400 crore from anchor investors.
The initial public offer of up to 178.20 crore shares, comprised a fresh issue of up to 118.80 crore shares and an offer for sale of up to 59.40 crore shares.
DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets were the managers to the offer. The government will get ₹1,544 crore from the initial public offering. Many brokerages had recommended subscribe for IRFC IPO, citing attractive valuation and 'healthy return' ratios.
The share allocation in Indigo Paints IPO is likely to be finalised on 28 January while listing may happen on 2nd February, brokerages say. Link Intime India is the registrar of the IPO and will manage share allocation and refund. Investors can check allotment status on the registrar's website after it is finalised.
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