How to apply for IRFC IPO? Check the details and online application process here

How to apply for IRFC IPO? Check the details and online application process here
BCCL
  • The ₹4,634 crore initial public offering (IPO) of Indian Railway Finance Corporation (IRFC) kicked off today.
  • The issue is subscribed 25% so far on its first day.
  • You can submit your online application and make the payment through any supported UPI application via brokerages.
  • Here are the key things you should know before investing in IRFC.
The ₹4,634 crore initial public offering (IPO) of Indian Railway Finance Corporation (IRFC) kicked off today. The company has set the price band of the issue in the range of ₹25-26 per share of the face value of ₹10 each.

And, all brokerages have recommended ‘subscribe,’ thanks to its attractive pricing, reasonable valuations and solid growth outlook, given that it's the only dedicated financier to the Indian Railways.

The issue is subscribed 25% so far on its first day. If you are still looking to invest, fret not. The issue from the government-owned company will remain open till January 20. To invest in an IRFC IPO, you would need a Demat Account with brokerages like Zerodha, ICICI Direct, Angel Broking, HDFC Bank or Kotak Securities.

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How to apply for the Indian Railways Finance Corporation IPO?
  • You can submit your online application and make the payment through any supported UPI application via brokerages.
  • To be able to create a UPI ID, you need to download the BHIM app, or any other UPI enabled bank application, where you own an account.
  • While filing for the IPO make sure you mention the correct UPI ID.
  • And after filling the application, the subscriber can submit the same to its financial advisor or brokerage.
  • A request for blocking funds will be sent to the subscriber on the UPI mobile application. The subscriber would need to enter the UPI PIN to approve the block mandate.
  • The funds will get blocked in the subscriber’s bank account, and once the allotment is done, the money will be debited from the blocked sum.
Here are the key things you should know before investing in IRFC:
  • The investors will only be able to place a minimum bid of 575 equity shares.
  • Once the IPO is concluded, the shares are likely to hit the bourses on January 29.
  • The equity shares will be listed on both the exchanges — BSE and NSE.
  • The grey market premium suggests an upside of ₹1-2 for the price band set at ₹25-26 per share.
ParticularsIssue details
Opens onJanuary 18
Closes onJanuary 20
Price band₹25-26 per share
Minimum bid 575 equity shares
Reservation for qualified institutional buyers50%
Reservation for non-institutional buyers15%
Reservation for retail investors35%

We take you through the simple process of registering and applying for the IRFC IPO through various brokerages:

How to invest in IRFC using Zerodha app
  • Login to Zerodha Kite console.
  • Go to IPO section in Portfolio
  • Choose the IPO you want to apply for from the list.
  • Enter the UPI ID, bid details like price and quantity.
  • Now hit submit.
How to invest in IRFC using ICICI Direct app
  • Login to ICICIdirect.com.
  • Go to the IPO section in Trade & Invest.
  • Fill the bid details like price and quantity.
  • And hit submit once confirm the details.
How to invest in IRFC using Angel Broking app
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  • Log in to Angel Broking apps
  • Hit on 'More' on the top menu.
  • Click on 'IPO' from the dropdown.
  • Select the IRFC IPO and click the 'Apply' button.
  • Enter UPI ID, investor type, order quantity and price.
  • Click 'Apply' to place the IPO order
SEE ALSO: The startup behind Chhota Bheem, Motu Patlu and Shikari Shambhu is back with an IPO plan ⁠⁠— after a series of acquisitions and fundraisings

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