The allotment of the shares in IRFC IPO is set to be finalized soon, according to the website of the issue’s registrar KFin Technologies Private Limited, which is supposed to manage share allocation and refund. Investors are free to check the website of KFin Technologies Private Limited to check their allotment status. The brokerages say that the listing is scheduled to happen on 29th January. Investors are also free to check the allotment status on the BSE website. This is said to be the first time that a non-banking financial company in the public sector finalized its IPO.
The initial public offer of the Indian Railway Finance Corporation Limited had been reportedly subscribed nearly 3.5 times. The ₹4,633 crore IPO of IRFC had opened on 18th January and closed on 20th January. Post-IPO, the shareholding of the government is said to come down to 86.4%, from 100% earlier.
The offer has already received bids for around 4,35,22,57,225 shares against 1,24,75,05,993 shares on offer. On the other hand, the retail individual investors’ segment was subscribed 3.66 times. On the other hand, the Qualified Institutional Buyers (QIBs) category was subscribed 3.78 times and non-institutional investors 2.67 times.
The price range for the offer was fixed at ₹25-26 per share. Along with the IPO, IRFC had also reportedly raised about ₹1,400 crores from the anchor investors.
The initial public offer of up to 178.20 crore shares, consisted of a fresh issue of up to 118.80 crore shares and an offer sale of up to 59.40 crore shares.
The managers who provided the offer are DAM Capital Advisors Limited, ICICI Securities and Capital Markets (India), and HSBC Securities SBI Capital Markets. The government is said to get around ₹1,544 crores from the initial public offering. Many brokerages have already recommended a subscription for the said website, by giving examples of attractive valuation and ‘healthy return’ ratios.
The allotment is said to be done today and the results of it are yet to be seen.