The Indian Railways Finance Corporation (IRFC) IPO allotment status will be made available on Monday (January 25). IRFC is the borrowing arm for the national transporter Indian Railways.
The IRFC IPO was oversubscribed in the retail category. It will be distributed on a proportionate basis to Retail Individual Investors (RII). The Rs 4,633 crore IPO was over subscribed 3.49 times. Each retail investor will get a minimum of 1 lot subject to the availability of shares in the retail portion.
If enough shares are not available, a lottery is drawn to choose the investors. In this case as well, a lottery will be drawn to choose the investors in the retail category as it is oversubscribed 3.49 times.
IRFC listing date
As per the exchange, IPO share allotment process takes six working days from the issue closing date. The IRFC IPO opened for bidding on Jan 18 and closed on January 20.
Once the finalisation is done, credit of equity shares will start from January 28. The listing is scheduled for January 29 and equity shares will be listed on both the exchanges — BSE and NSE. The refunds will be strart from January 27.
IRFC IPO status
Bidders can visit the BSE and NSE websites to check their status. Exchange will also provide allotment information as provided by the registrar to the issue. To avail this facility, investor has to register one time by providing the PAN details. The user shall be able to view the details of the bids entered against registered PAN number.
On registration, the investor will receive an email notification from NSE on the registered email address providing the login details.
IRFC grey market premium
The grey market premium of IRFC shares had fallen to Rs 0.60-0.65 from Re 1 last week.
IRFC was the first initial public offer in 2021 and the first-ever IPO by a non-banking financial company in the public sector.
Meanwhile, the government will get Rs 1,544 crore from the IPO of IRFC. IRFC IPO had a total size of Rs 4,633 cr of which IRFC would get two thirds of the proceeds and the government one third (Rs 1,544 cr). Against an amount of Rs 3,244 cr to be raised (ex-anchor) bids of more than Rs 11,200 cr have been received.
So far in current fiscal, the government has mopped up Rs 15,220 crore from disinvestment and share buyback.
The budgeted disinvestment mop up for current fiscal is Rs 2.10 lakh crore. Of this Rs 1.20 lakh crore is to come from minority stake sale in CPSEs and Rs 90,000 crore from stake sale in state-owned financial institutions.