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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
| 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 |
The net IPO proceeds are proposed to be utilized for the following objects:
| IPO Date | Jan 18, 2021 to Jan 20, 2021 |
| Listing Date | Friday, January 29, 2021 |
| Face Value | ₹10 per share |
| Price | ₹25 to ₹26 per share |
| Lot Size | 575 Shares |
| Issue Size | 1,782,069,000 shares of ₹10 (aggregating up to ₹4,633.38 Cr) |
| Fresh Issue | 1,188,046,000 shares of ₹10 (aggregating up to ₹[.] Cr) |
| Offer for Sale | 594,023,000 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 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 5 PM on the issue closing day.
| Event | Tentative Date |
|---|---|
| Opening Date | Jan 18, 2021 |
| 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 |
| Listing Date | Jan 29, 2021 |
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 |
|---|---|---|---|
| Retail (Min) | 1 | 575 | ₹14,950 |
| Retail (Max) | 13 | 7475 | ₹194,350 |
| Pre Issue Share Holding | 100% |
| Post Issue Share Holding | 86% |
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...
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
| Category | Subscription (times) |
|---|---|
| QIB | 3.78 |
| NII | 2.67 |
| Retail | 3.66 |
| Employee | 43.76 |
| Total | 3.49 |
| 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 |
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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
KFin Technologies Limited
Phone: 04067162222, 04079611000
Email: einward.ris@kfintech.com
Website: https://karisma.kfintech.com/
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
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, Nuvama, 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.
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