The IRFC IPO, which was the first of the calendar year, had received a good response after it opened for subscription earlier this month. Here is how investors can check the share allotment status:
The share allotment process in Indian Railway Finance Corporation’s (IRFC) initial public offering (IPO) will be finalised on Monday, indicated the website of the registrar KFin Technologies Private Limited. KFin is in charge of managing the share allocation and refund process for the public issue.
The IRFC IPO, which was the first of the calendar year, had received a good response after opening earlier this month. It was subscribed nearly 3.5 times. The 4,633-crore IRFC IPO opened on January 18 and closed on January 20. This is the first IPO by an NBFC in the public sector.
How can you check allotment status?
Investors who had bid for the public issue can check details of the allotment on the website of KFin Technologies. Brokerages indicated that the listing of the company could happen on January 29.
The allotment status for the IRFC IPO can also be checked on the Bombay Stock Exchange (BSE) website.
Important details about the IRFC IPO
IRFC is the dedicate funding arm of the Indian Railways. The company is likely to use the proceeds from the IPO towards improving its equity capital base in order to meet its future capital requirements towards growth and other purposes.
It may be noted that the offer received bids for 4,35,22,57,225 shares against 1,24,75,05,993 shares on offer. The retail segment was subscribed 3.66 times, while it was 3.78 times for the QIB category and 2.67 times for non-institutional investors.
After the IPO, the government’s shareholding in IRFC will come down to 86.4 per cent from 100 per cent.
The price band of the IPO was fixed at Rs 25-26 per share. The IPO of up to 178.20 crore shares consisted of a fresh issue of up to 118.80 crore shares and an OFS of up to 59.40 crore shares.
The lead book running managers of the IPO were DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets. The government is expected to earn Rs 1,544 crore from the IRFC IPO.
When the IPO was launched, many brokerage houses recommended investors to subscribe to the IPO in view of the company’s valuation and healthy return ratios.
