|Issue Date||18 Jan 2021 - 20 Jan 2021|
|Issue Size||₹4633.38 Cr|
|Market Lot||575 Shares|
|Shares on Offer||1,782,069,000|
|Subject to Sauda||N/A|
|Listing Date||29 Jan 2021|
Indian Railway Finance Corporation (IRFC) was set up on 12th December, 1986 as the dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas Capital Markets.
IRFC is a Schedule ‘A’ Public Sector Enterprise under the administrative control of the Ministry of Railways, Govt. of India. It is also registered as Systemically Important Non–Deposit taking Non Banking Financial Company (NBFC – ND-SI) and Infrastructure Finance Company (NBFC- IFC) with Reserve Bank of India (RBI).
In more than 30 years of existence, IRFC has played a significant role in supporting the expansion of the Indian Railways and related entities by financing a significant proportion of its annual plan outlay.
The primary objective of IRFC is to meet the predominant portion of ‘Extra Budgetary Resources’ (EBR) requirement of the Indian Railways through market borrowings at the most competitive rates and terms. The Company’s principal business therefore is to borrow funds from the financial markets to finance the acquisition / creation of assets which are then leased out to the Indian Railways.
IRFC’s cumulative funding to rail sector has crossed Rs.1.80 lakh crore as of 31st March, 2017 and is all set to cross Rs.2.20 lakh crore by the end of March, 2018. The funds are utilized for acquiring rolling stock assets and also building up infrastructure, constituting significant part of annual capital expenditure of Indian Railways. So far, it has funded acquisition of 8998 locomotives, 47910 passenger coaches, 2,14,456 wagons, which constitute around 70% of the total rolling stock fleet of Indian Railways.
From 2011-12 onwards, IRFC has forayed into funding of railway projects and capacity enhancement works. The Company has been assigned the additional task of funding Railway Projects through Institutional Finance to the extent of Rs.1.50 Lakh Crore by 2019-20.
IRFC has also been lending to various entities in Railway sector like Rail Vikas Nigam Limited (RVNL), Railtel, Konkan Railway Corporation Limited (KRCL), Pipavav Railway Corporation Limited (PRCL) etc.
IRFC’s constant endeavor has been to diversify its borrowing portfolio in terms of instruments, markets and investors which has led to the Company meeting the targeted borrowings year after year, through issue of both taxable and tax-free bonds, term loan from banks/financial institutions besides off shore borrowings, at competitive market rate.
The President of India acting through the Ministry of Railways (MoR) is the promoter of the company.
|Total Assets (In ₹ Millions)||2,066,036.09||1,614,684.08||1,287,503.84|
|Total Revenue (In ₹ Millions)||111,335.94||92,683.81||80,137.90|
|Profit After Tax (PAT) (In ₹ Millions)||22,546.61||20,490.86||9,211.71|
|Date||GMP||Kostak||Subject to Sauda|
|22 Jan 2021||₹0.5-0.6||₹350||N/A|
|21 Jan 2021||₹0.85-0.95||₹250||₹500-550|
|19 Jan 2021||₹1.1-1.2||₹350-400||₹600|
|15 Jan 2021||₹1.4-1.5||₹425-450||₹1200-1300|
|16 Dec 2020||₹1.5-2||₹500||N/A|
|Profitable company and profit is increasing year on year since 2017 according to company financials.|
|Revenue of the company is increasing year on year since 2017 according to company financials.|
|Total assets of the company has increased almost 100% in 2019 in comparison to 2017.|
|EPS of the company has doubled in comparison to 2017.|
|It is a public sector company.|
|The GMP and Subject to Sauda is not that great. There might not be a big listing gain as they have seen for other public sector companies.|
|Date & Time||QIB||NII||RII||Total|
|Day 1 - 18 Jan||0.00||0.09||1.25||0.65|
|Day 2 - 19 Jan||0.00||0.24||2.33||1.22|
|Day 3 - 20 Jan||3.78||2.67||3.66||3.49|
Please click the link below to check the IPO allotment status.IPO Allotment Status
Indian Railway Finance Corporation Limited IPO will open on 18 Jan 2021 and close on 20 Jan 2021.
Indian Railway Finance Corporation Limited IPO will list on 29 Jan 2021.
The offer price of Indian Railway Finance Corporation Limited IPO is ₹25-26.
The lot size of Indian Railway Finance Corporation Limited IPO is 575.
The Grey Market Premium (GMP) price of Indian Railway Finance Corporation Limited IPO is ₹0.5-0.6.
The Kostak price of Indian Railway Finance Corporation Limited IPO is ₹350.
The Subject to Sauda price for Indian Railway Finance Corporation Limited IPO is Not Available at the moment.
Please Leave Your Message