IPO of Indian Railway Finance Corporation Expected This Month

IPO of Indian Railway Finance Corporation expected this month, to raise 4,600 crores.

The Indian Railway Finance Corporation (IRFC) ‘s initial public offering (IPO) of Rs 4,600 crore is expected to come this month. This will be the first IPO of a public sector non-banking financial company (NBFC).

IRFC Chairman and Managing Director Amitabh Banerjee said, “It is very likely that the IPO will come by the third week of this month.”

But if the market conditions are not good, then we can bring it in the first or second week of January as well. IRFC will also raise money from anchor investors.

He said, “The government is also preparing to raise money from anchor investors in this IPO.” IRFC submitted a draft document for the IPO in January 2020.

Market sources said the IPO is expected to raise around Rs 4,600 crore. Regarding adding anchor investors to the IPO, Banerjee said that it is a trusted market.

Anchor investors will be confident that they will not have any problem in getting their shares without regular bidding.

This IPO will be of 178.20 crore shares. Of this, 118.80 crore new shares will be issued while the government will bring a sales offer of Rs 59.40 crore.

On the other hand, when talking about the Burger King IPO, investors have shown tremendous enthusiasm for it. This public offer received 156.65 times the subscription till the last day.

The IPO opened for subscription on Wednesday, December 2, 2020. The company’s IPO received over 100 percent subscription in the first few hours on Wednesday.

This IPO of Burger King India is worth 810 crores. Under this IPO, new shares worth Rs 450 crore will be issued.

Burger King India has fixed the price of Rs 59-60 per share for this IPO. Earlier Burger King India on Tuesday raised Rs 364.5 crore through major investors.