IRFC IPO share allotment to be finalised today; check details at kfintech.com and bseindia.com
Price range of the offer was fixed at Rs 25 to Rs 26 per share. Ahead of the IPO, IRFC had raised about Rs 1,400 crore from anchor investors
The share allotment process in Indian Railway Finance Corporation's (IRFC) initial public offering (IPO) will be finalised on Monday, according to the website of the registrar KFin Technologies Private Limited.
According to a report in India Today, the IRFC IPO, which was the first of the calendar year, received favourable response after opening earlier this month, being subscribed nearly 3.5 times. The report added that the 4,633-crore IRFC IPO opened on 18 January and closed on 20 January. This is the first IPO by an NBFC in the public sector.
According to a report by Mint, IRFC is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets. Post IPO, the shareholding of government will come down to 86.4 percent from 100 percent earlier.
Price range of the offer was fixed at Rs 25 to Rs 26 per share. Ahead of the IPO, IRFC had raised about Rs 1,400 crore from anchor investors. Furthermore, the initial public offer of up to 178.20 crore shares, comprised a fresh issue of up to 118.80 crore shares and an offer for sale of up to 59.40 crore shares.
Here's how to check on BSE:
Step 1: Go to the website bseindia.com.
Step 2: Once there, select 'Equity' and then from the dropdown, sleect issue name 'Indian Railway Finance Corporation'.
Step 3: Enter application number and PAN card number.
Step 4: Click on Search button.
Here's how to check on KFin Technologies website
Step 1: Go to website kfintech.com.
Step 2: Once there, select IPO name from dropdown.
Step 3: Enter Application Number or DP ID/ Client ID or PAN.
Step 4: For Application number, select application type and 'Enter Application Number'.
Step 5: In case of DP ID/ Client ID, select Depository 'NSDL or CSDL' and enter 'DP ID/ Client ID'.
Step 6: Enter captcha and submit.
According to a report by CNBCTV-18, the status will only appear after allotment if details entered are correct. In case of non-allotment, the blocked amount will be refunded to the bank account.
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