New Delhi, The initial public offering (IPO) of the Indian Railway Finance Corporation (IRFC) will open on January 18 in the price band of ₹25-26 per share.
The IPO worth over ₹4,600 crore would close on January 20.
The IPO of the NBFC comprises up to 178.20 crore equity shares of ₹10 each, including fresh issue of 118.80 crore shares and offer for sale of 59.4 crore equity shares.
Advertisement
On Friday, the company raised ₹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.
Next