The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC), worth over Rs 4,600 crore, will hit the markets next week.
The IPO is scheduled to open on January 18 and close on January 20. The issuing share price of IRFC is set at Rs 25-26 per share.
In a tweet, Tuhin Kanta Pandey, Secretary of Department of Investment and Public Asset Management (DIPAM) said, “IRFC coming up for listing with a Rs 4600 cr+ issue in a price band of Rs 25-26 per share. Anchor book on January 15 and the Main book from January 18-20.”
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.