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Indian Railway Finance Corporation Limited IPO (IRFC IPO) Detail

Jan 18, 2021 - Jan 20, 2021

Incorporated in 1986, the Indian Railway Finance Corporation (IRFC) is a public-sector enterprise that is wholly-owned by the Government of India. IRFC is primarily engaged in financing the acquisition of rolling stock assets, leasing of railway infrastructure assets, and lending to entities under the Ministry of Railways (MoR). Being the borrowing arm of Indian Railways, IRFC is responsible to raise funds for MoR that is required to procure rolling stock assets (wagons, trucks, electric multiple units, locomotives, coaches), its improvement, expansion, and assets management.

It follows a financial leasing model to finance rolling stock assets procurement for a lease period of 30 years. In fiscal 2019, the actual capital expenditures by the Indian Railways were Rs. 1,334 billion, out of which, IRFC financed Rs. 525.35 bn accounting for 39.34% expenditures.

Competitive strengths

  • Strategic role in Indian Railways growth.
  • Sound credit rating i.e. CRISIL AAA/A1+ and ICRA AAA/A1+.
  • Competitive cost of borrowing.
  • Strong financial performance.
  • Sound asset-liability management.
  • Experienced management team.

Company Financials:

Summary of financial Information (Restated Consolidated)
Particulars For the year/period ended (Rs in million)
30-Sep-20 31-Mar-20 31-Mar-19 31-Mar-18
Total Assets 29,19,865.81 27,55,041.29 20,64,382.95 16,14,510.41
Total Revenue 73,848.29 1,34,210.90 1,09,873.55 92,078.39
Profit After Tax 18,868.41 31,920.96 21,399.33 20,014.60

Objects of the Issue:

The net IPO proceeds are proposed to be utilized for the following objects:

  • To augment company's equity capital base to meet business future growth requirements.
  • To meet general corporate purposes.

IRFC IPO Details

IRFC IPO Date Jan 18, 2021 to Jan 20, 2021
IRFC IPO Face Value ₹10 per share
IRFC IPO Price ₹25 to ₹26 per share
IRFC IPO Lot Size 575 Shares
Issue Size1,782,069,000 shares of ₹10
(aggregating up to ₹4,633.38 Cr)
Fresh Issue1,188,046,000 shares of ₹10
(aggregating up to ₹[.] Cr)
Offer for Sale594,023,000 shares of ₹10
(aggregating up to ₹[.] Cr)
Issue Type Book Built Issue IPO
Listing At BSE, NSE
Company Promoters

The President of India acting through the Ministry of Railways (MoR) is the promoter of the company.

IRFC IPO Timeline (Tentative Timetable)

IRFC IPO opens on Jan 18, 2021, and closes on Jan 20, 2021. The IRFC IPO bid date is from Jan 18, 2021 10.00 A.M. to Jan 20, 2021 5.00 P.M. The Cut-off time for UPI Mandate confirmation is 12 P.M. on the next day of issue closing day.

Event Date
IRFC IPO Opening Date Jan 18, 2021
IRFC IPO Closing Date Jan 20, 2021
Basis of Allotment Jan 25, 2021
Initiation of Refunds Jan 27, 2021
Credit of Shares to Demat Jan 28, 2021
IRFC IPO Listing Date Jan 29, 2021

IRFC IPO Lot Size

The IRFC IPO lot size is 575 shares. A retail-individual investor can apply for up to 13 lots (7475 shares or ₹194,350).

Application Lots Shares Amount
Minimum 1 575 ₹14,950
Maximum 13 7475 ₹194,350

IRFC IPO Promoter Holding

Pre Issue Share Holding 100%
Post Issue Share Holding 86%

IRFC IPO Review

The issue is priced attractively by a dividend-paying PSU. It is likely to get fancy post listing being the first mover in the segment. Investors may consider investment for long term rewards as this company is laying its future on track and poised for better growth going forward. Read detail review...

New IRFC IPO Recommendation by Members

IRFC IPO Recommendations Details | Post Recommendation | Manage Recommendations

Subscribe Neutral Avoid
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No Record Found.


IRFC IPO Subscription Status (Bidding Detail)

The IRFC IPO is subscribed 3.49 times on Jan 20, 2021 7:49:00 AM. The public issue subscribed 3.66 times in the retail category, 3.78 times in the QIB category, and 2.67 times in the NII category. Check Day by Day Subscription Details (Live Status)

Application Wise IPO Subscription (Retail): 2551325 times

CategorySubscription (times)
QIB3.78
NII2.67
Retail3.66
Employee43.76
Total3.49

IRFC IPO Prospectus

IRFC IPO Rating

4014
4.1
Rating:Rated 4.1 stars
Vote Here ...

IRFC IPO Listing Date

Listing Date Friday, January 29, 2021
BSE Script Code 543257
NSE Symbol IRFC
Listing In B Group of Securities
ISIN INE053F01010
IPO Price ₹26 per share
Face Value ₹10 per share

Listing Day Trading Information

.
IPO Price
Open
Low
High
Last Trade
BSE
₹26.00
₹25.00
₹24.30
₹25.80
₹24.85
NSE
₹26.00
₹24.90
₹24.35
₹25.80
₹24.80

Company Contact Information

Indian Railway Finance Corporation Limited
UG-Floor, East Tower, NBCC Place
Bisham Pitamah Marg, Pragati Vihar, Lodhi Road
New Delhi - 110 003
Phone: 91 (11) 2436 9766
Email: dgmcs@irfc.nic.in
Website: http://www.irfc.nic.in

IRFC IPO Registrar

KFin Technologies Limited

Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://karisma.kfintech.com/

IRFC IPO FAQs

IRFC IPO is a main-board IPO of 1,782,069,000 equity shares of the face value of ₹10 aggregating up to ₹4,633.38 Crores. The issue is priced at ₹25 to ₹26 per share. The minimum order quantity is 575 Shares.

The IPO opens on Jan 18, 2021, and closes on Jan 20, 2021.

KFin Technologies Limited is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Zerodha customers can apply online in IRFC IPO using UPI as a payment gateway. Zerodha customers can apply in IRFC IPO by login into Zerodha Console (back office) and submitting an IPO application form.

Steps to apply in IRFC IPO through Zerodha

  1. Visit the Zerodha website and login to Console.
  2. Go to Portfolio and click the IPOs link.
  3. Go to the 'IRFC IPO' row and click the 'Bid' button.
  4. Enter your UPI ID, Quantity, and Price.
  5. ‘Submit’ IPO application form.
  6. Visit the UPI App (net banking or BHIM) to approve the mandate.

Visit Zerodha IPO Application Process Review for more detail.

The IRFC IPO opens on Jan 18, 2021 and closes on Jan 20, 2021.

IRFC IPO lot size is 575 Shares and the minimum order quantity is .

You can apply in IRFC IPO online using either UPI or ASBA as payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO application is offered by brokers who don't offer banking services. Read more detail about apply IPO online through Zerodha, Upstox, 5Paisa, Edelweiss, ICICI Bank, HDFC Bank and SBI Bank.

The finalization of Basis of Allotment for IRFC IPO will be done on Jan 25, 2021, and the allotted shares will be credited to your demat account by Jan 28, 2021. Check the IRFC IPO allotment status.

The IRFC IPO listing date is on Friday, January 29, 2021.
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IRFC IPO Message Board

Ranked Members List  Ranked Members List

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3243 Comments

1438. Konapurkar Aditya |   Link |Feb 26, 2021 4:48:52 PM
Hello guys good evening . Do you still feel one needs to hold the shares . I have 783 qty, please advise. What to do ? It is already 1.40 rs below listing price . Please do advise
1438.1. crsl |   Link |Feb 27, 2021 8:14:52 AM
Top Contributor Top Contributor (200+ Posts, 200+ Likes)
CMP - 24.65

Issue Price ---------- Dividend ----------- I Tax (Slab) ----- Avg.Cost
26 ---------------------- 1.05 ---------------- 0.00 (Nil) ---------- 24.95
26 ---------------------- 1.05 ---------------- 0.11 (10%) ------- 25.06
26 ---------------------- 1.05 ---------------- 0.21 (20%) ------- 25.16
26 ---------------------- 1.05 ---------------- 0.32 (30%) ------- 25.27
1437. SHANI |   Link |Feb 25, 2021 12:43:54 PM
Top Contributor Top Contributor (300+ Posts, 300+ Likes)
had anyone receive dividend credit , dividend declare 1.05 per share
1436. Nimboo ka aachar |   Link |Feb 23, 2021 10:29:23 AM
When will this go up?
1436.1. arunARUN |   Link |Feb 24, 2021 1:04:04 AM
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
May be more like 4 to 6 months. Let IPO money get fully deployed and debt equity ratio rise near to level of 9.5. We will surly see price of 33 before end of December 2021
1435. Captain Jack Sparrow |   Link |Feb 21, 2021 6:18:45 PM
If i tomorrow sell my IPO ALLOTED shaes then i will receive dividends.
Am i right ?
1435.2. Sanganagouda K |   Link |Feb 22, 2021 10:53:26 AM
Will I get dividend if I sell today? 23rd.
1435.3. arunARUN |   Link |Feb 22, 2021 10:32:47 PM
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
Even if you sold on 19th feb you would have got dividend. pl understand stock exchange ex date dont bother about record date
1434. Eagleye |   Link |Feb 13, 2021 5:20:21 PM
IPO Guru IPO Guru (6300+ Posts, 20900+ Likes)
IRFC

Dividend Record date
20th February 2021

Dividend Dispatch date
04th March 2021
1434.1. Eagleye |   Link |Feb 22, 2021 9:22:18 PM
IPO Guru IPO Guru (6300+ Posts, 20900+ Likes)
.
1433. vishal mulchandani |   Link |Feb 22, 2021 12:29:09 PM
On which date dividend will credited in account?
1433.1. j p gupta |   Link |Feb 22, 2021 7:30:24 PM
Before March 7th
1433.2. Eagleye |   Link |Feb 22, 2021 9:16:46 PM
IPO Guru IPO Guru (6300+ Posts, 20900+ Likes)
04th March
1432. Eagleye |   Link |Feb 13, 2021 5:35:07 PM
IPO Guru IPO Guru (6300+ Posts, 20900+ Likes)
IRFC

TARGET 35-36

35-40% upside
In 4-6 weeks
1432.5. arunARUN |   Link |Feb 17, 2021 7:45:23 PM
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
May be more like 4 to 6 months. Let IPO money get fully deployed and debt equity ratio rise near to level of 9.5. We will surly see price of 33 before end of December 2021
1432.6. UPINVEST |   Link |Feb 21, 2021 12:37:45 PM
Thanks a lot mam. pls give 6 month target
1431. Eagleye |   Link |Feb 13, 2021 5:35:35 PM
IPO Guru IPO Guru (6300+ Posts, 20900+ Likes)
IRFC

Interim Dividend

@1.05 on yesterdayโ€™s closing price of 25.40

Dividend yield = 4.134%

๐Ÿ‘๐Ÿผ๐Ÿ‘๐Ÿผ๐Ÿ‘๐Ÿผ
1431.1. arunARUN |   Link |Feb 17, 2021 10:49:03 PM
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
They are paying dividend to even those shareholders who are not shareholders on 31st Dec 2020. Roughly 180 crore extra dividend paid to investor who joined in IPO.
Had govt given this dividend before IPO date none of the ipo applicant would have had any claim
Though retail benefits along with QIB and HNIs it is odd way to pay.
No i will not consider it as regular dividend as the IPO money is not even deployed as it did not exist on 31st Dec 2020
1430. arunARUN |   Link |Feb 17, 2021 7:42:38 PM
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
People are wondering why IRFC did not move despite Good Q3 results and dividend

My take
Both factors were priced in. RHP had September 30, 2020 data. It is easy to predict EPS of this company basis asset deployed. Margin is well known. This dividend is like your investment back to you. So in place of book value of 27 you have now invested in book value of 26 with investment of Rs 25.
Please remember dividend are taxable. Your IPO money which was invested in Jan 2021 was not even earning till Dec 31, 2020
1429. j p gupta |   Link |Feb 15, 2021 11:04:24 AM
No Movement despite good Q3 result and dividend announcements.
1429.1. arunARUN |   Link |Feb 17, 2021 7:36:05 PM
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
Both factors were priced in. This dividend is like your investment back to you. So in place of book value of 27 you have now invested in book value of 26 with investment of Rs 25.
Please remember dividend are taxable. Your IPO money which was invested in Jan 2021 was not earning till Dec 31, 2020
1428. SHARMARAJU |   Link |Feb 13, 2021 2:47:32 PM
please tell from which date to till date we have to keep these share in our demat account to get dividend
thanks
1428.5. IPO Mitr |   Link |Feb 15, 2021 9:19:03 PM
20th Feb is record date for payment and hence 17th Feb cannot be the ex-date.
1428.6. Ar Shams |   Link |Feb 15, 2021 9:44:55 PM
@ipo mitr,

Kindly be remain updated.

Please check BSE website while observing stock quotes of IRFC and click "Corporate Action" where you will find clearly mentioned ex-dividend date as 17.02.2021.

I am not talking out of my heart like you.
1427. Jain Sahab |   Link |Feb 15, 2021 10:09:23 PM
Top Contributor Top Contributor (300+ Posts, 200+ Likes)
I am expecting 26+ weekly closing.
Today Delivery was 55.55% + Block Deal happened @26
Last minute activity clearly indicated institutional buying ( more than 1mn qty traded in 1minute candle) . Keep holding it at least for 2 weeks, you won''t regret....

1426. IPO Mitr |   Link |Feb 15, 2021 9:27:47 PM
With significant number of Robinhood investors onboarding IPO bandwagon, first month behavior post listing has changed. Everyone should take that into account and re-adjust their post listing strategy based on their understanding of changed behavior.

One thing is sure that.......it requires a re-think.
1425. AMB |   Link |Feb 15, 2021 11:37:48 AM
To get credit back, incase of non allotment of shares, with whom we need to follow up?
I have tried to ask broker but no reply onto this.

Please advise.
1425.1. KAILASH SINGH BISHT |   Link |Feb 15, 2021 8:22:49 PM
Either registrar or your bank I guess! First, confirm with your bank.
1424. Konapurkar Aditya |   Link |Feb 15, 2021 3:28:07 PM
Money raised from 750million dollie bonds .

Net profit raises in Q3 to 16% to 2600 crores .

Dividend of 1.05 declared


But still this stock doesn''t move it all it has croosed 26 was 2 times from day of listing. And both the times it was pre open price.

Only God can help to move this stock or may be someone has to approach Elon Musk to tweet hahah .
1423. Rishbah |   Link |Feb 15, 2021 6:24:50 AM
Someone please help....Share dividend account mein aane ke liye kisi ko mail karna padta hai ya apne aap paise credit ho jaate hai uss account mein jo demat se linked hai?

"Shareholder(s) are kindly requested to update/ submit details for TDS on dividend to Registrar
and Transfer Agent at irfc@beetalfinancial.com on or before 22"4 February, 2021." Ek jagah ye likha hua tha.
1423.1. Roxpatel |   Link |Feb 15, 2021 6:47:05 AM
Top Contributor Top Contributor (400+ Posts, 500+ Likes)
No, its auto process into bank
1423.2. Rishbah |   Link |Feb 15, 2021 7:31:13 AM
Thanksss
1422. Konapurkar Aditya |   Link |Feb 13, 2021 6:44:37 PM
I have a question .I have 783 shares . If I buy another 200 shares will I get dividend for 983 or only for 783 only
1422.1. Cheteshwar |   Link |Feb 13, 2021 7:50:11 PM
You need to buy additional shares before ex-dividend date to get additional dividend. Here ex-dividend date is 17th Feb 2021 i guess.
1422.2. KrishnaTwentyFour |   Link |Feb 14, 2021 3:00:40 PM
IPO Guru IPO Guru (1100+ Posts, 1200+ Likes)
Yes buy before coming Wednesday
1421. Konapurkar Aditya |   Link |Feb 14, 2021 1:39:02 PM
Guys what do think the price might go upto tomorow.

I feel if the dividend news was out on 12 th feb it would have impacted the share price as irctc was also going up based on a fake news that all trains would resume from April.

There will still be lot of people. Who would sell it once price reaches 26 . People need to hold. It and ensure that buyers should be more and sellers should be less .
1420. iamnimitshah |   Link |Feb 10, 2021 5:37:29 PM
Top Contributor Top Contributor (400+ Posts, 300+ Likes)
dividend kitna milega? 0.5โ‚น?
1420.1. arunARUN |   Link |Feb 14, 2021 9:52:06 AM
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
Rs. 1.05 per share
1419. AnilYahoo |   Link |Feb 13, 2021 3:33:13 PM
Abhi Sarkar ne 13% maal bechela hein ipo mein, abhi aur 11% maal bechneka hein kuch to bhi 75% guideline meet karne ke vaste. To price atleast double karenge tabhi to aap log phirse paise dalenge na? Samje kya? :)
1419.1. arunARUN |   Link |Feb 14, 2021 9:46:39 AM
IPO Guru IPO Guru (1100+ Posts, 1000+ Likes)
SO where govt will Sell? and all those anchors and QIBs are fools as per you?