Indian Railway Finance Corporation (IRFC) is the finance arm of Indian Railways, IRFC is responsible for raising the finance necessary for expansion and running of Indian Railways through capital markets and other borrowings.
IRFC is wholly-owned by the Government of India acting through the MoR (Ministry of Railways), registered with the Reserve Bank of India as a NBFC and classified as an Infrastructure Finance Company.
IRFC’s primary business is financing the acquisition of rolling stock assets, which includes both powered and unpowered vehicles, leasing of railway infrastructure assets and national projects of the Government of India and lending to other entities under the Ministry of Railways. In Fiscal 2019, IRFC financed Rs. 525.35 billion accounting for 39.38% of the actual capital expenditure of the Indian Railways.
In Fiscal 2017, 2018 and 2019, IRFC was responsible for financing 72%, 93% and 82%, of the Indian Railway’s total rolling stock.
The size of public offer comprises of around 178 crore equity shares, which includes fresh issuance of 118 crore equity shares and an offer for sale of 60 crore equity shares by the Government of India. For more information you can read the IPO Prospectus filed by the company.
Indicative Timetable
| Event | Date |
|---|---|
| Issue Period | 18th January 2021 - 20th January 2021 |
| Price Range | 25 - 26 |
| Minimum Bid Quantity | 575 and in multiples thereof |
| Finalisation of Allotment | 25th January 2021 |
| Initiation of Refunds | 27th January 2021 |
| Credit of Shares | 28th January 2021 |
| Listing | 29th January 2021 |
How do I apply for the IRFC IPO?
You can apply for the IRFC IPO using any supported UPI app by following two steps:
- Enter your bid on Console
- Accept UPI mandate on your phone
On acceptance of the mandate, the bid amount will get blocked in your bank account. Click here to learn more.
