IRFC Shares Listed On Stock Exchange With 4% Discount
IRFC shares listed on the stock exchange with a 4% discount, know the reason for listing below IPO price. Indian Railway Finance Corporation (IRFC) shares were listed on BSE on January 29 with a discount.
At the time of market opening, one share of the company was valued at Rs 25. At the same time, the IPO price of the company’s shares was Rs 26 per share.
On the National Stock Exchange, the company’s shares opened at a level of Rs 24.90 per share with a discount of four percent.
The company’s shares were listed at a discount price due to a weak trend in domestic stock markets and lower subscriptions than expected.
The Union Budget presented on February 1, a renewed confrontation between the Indian and Chinese armies over the LAC in Sikkim and a sell-off by foreign institutional investors have seen considerable improvement in Sensex and Nifty in the last five sessions.
IRFC’s IPO was the first public offer of the year. The company’s Rs 4,633 crore IPO opened for subscription on 18 January. The last date of January 20 was set to subscribe to it.
The company’s IPO received 3.49 times more subscriptions. After this, IPOs of companies came one after the other. Public issues of Indigo Paints, Home First Finance Company, and Stove Kraft were open for subscription.
Significantly, in 2020 there was tremendous enthusiasm about the IPO of various companies. Even investors had earned a premium of more than 100 percent in many issues.
IRFC will use the funds received from this public issue to meet future capital needs. Indian Railway Finance Corporation was established in 1986.
Petrol, Diesel Price: Petrol-diesel cheaper in this state, the government reduced VAT by 2%
The Rajasthan government has reduced VAT on petrol and diesel by 2 percent. Orders in this regard were issued by the government on Thursday. This order became effective from 12 on the same day.
After this order, the people of the state have got some relief in the prices of diesel and petrol. Petrol has become cheaper by 1 rupee 35 paise and diesel by 1 rupee 32 paise after the VAT reduction.
Petrol prices in Jaipur are 92 rupees 51 paise and diesel prices are 84 rupees 62 paise per liter. In the state, VAT will be charged 36 percent on petrol and 26 percent on diesel.
Earlier, both were charged 38 percent and 28 percent VAT respectively. It is known that Rajasthan has the highest VAT on petrol diesel in the country.
