Indian Railways: IRFC IPO First IPO of new year 2021 opens 18 Jan: This will be the first IPO of the non-banking financial company of Railways. The IPO will close on January 20.
The stake of Indian Railway Finance Corporation (IRFC), a state-run company that provides funds to Indian Railways, is on sale. You will also be able to invest because these shares are in the public domain. After this, the company will be listed on the stock market. If you want to invest then it is necessary to have a demat account.
IPO to open on January 18:
Actually, IRFC’s Rs 4,600 crore initial public offering (IPO) will open on January 18. Tuhin Kant Pandey, Secretary, Department of Investment and Public Asset Management (Deepam), gave this information on Wednesday. He tweeted, “IRFC will have an IPO of Rs 4,600 crore. For this, the price band i.e. the price range has been kept at Rs 25-26.
First IPO of non-banking financial company of Railways :
Let us tell you that this will be the first IPO of non-banking financial company of Railways. The IPO will close on January 20. In January 2020, IRFC submitted documents for the IPO. This IPO will be of 178.20 crore shares. Under this, 118.80 crore new shares will be issued. At the same time, the government will bring a sale offer of 59.40 crore shares.
About the company:
IRFC was established in 1986. The major business of the company is to raise funds from the financial market and provide financing for the acquisition or creation of assets. These assets are later leased to the Indian Railways. Explain that in April 2017, the Union Cabinet had approved the listing of five railway companies.
Four of these companies,
IRCON International Limited, Rights Limited, Rail Vikas Nigam Limited and Indian Railway Catering and Tourism Corporation have already been listed. Let us know that in 2019 Indian Railway Catering and Tourism Corporation (IRCTC) also launched IPO. This was taken up by investors in the stock market. Today IRCTC is a listed company in the stock market.