RFC IPO to open on Monday in Rs 25-26 per share price band

The initial public offering (IPO) of the Indian Railway Finance Corporation (IRFC) will open on January 18 in the price band of Rs 25-26 per share.

The IPO worth over Rs 4,600 crore would close on January 20.

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The IPO of the NBFC comprises up to 178.20 crore equity shares of Rs 10 each, including fresh issue of 118.80 crore shares and offer for sale of 59.4 crore equity shares.

On Friday, the company raised Rs 1,390 crore from anchor investors.

Established in 1986, the dedicated financing arm of the 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.