Indian Railway Finance Corp’s Rs 4,600-crore IPO to open on January 18

The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC), worth over Rs 4,600 crore, will open on January 18 and close on January 20. The price band of the IPO will be of Rs 25-26 per share.

“IRFC coming up for listing with a Rs 4600 cr+ issue in a price band of Rs 25-26 per share. Anchor book on January 15 and the Main book from January 18-20,” said Tuhin Kanta Pandey, Secretary, Department of Investment and Public Asset Management (DIPAM) on Twitter.

Established in 1986, the dedicated financing arm of the Indian 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.

–IANS

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(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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