Indian Railway Fin announces launch of initial public offering
13/01/2021 11:10
Indian Railway Finance Corporation Ltd. has announced public offering of 1782069000 shares at a price of Rs 10.00 each for Cash at a Premium of Rs 16.00 per share. The gross proceeds of the issue are expected to be Rs 4,63,337.94 lakhs.

The company's initial public offer (IPO) will open on 18 January 2021 and is expected to close on 20 January 2021, subject to customary closing conditions. The price band of the issue has been fixed at Rs 25.00-26.00 per share.

The IPO includes a fresh Issue of 1782069000 Equity Shares of the Company at an price of Rs 26.00 per Equity Share. The company has fixed the minimum bid lot for the issue at 575 shares with bids in multiples of 575.

Indian Railway Finance Corporation Ltd. anticipates using the proceeds of the issue for () Augmenting the equity capital base to meet the future capital requirements arising out of growth in the business() General corporate purposes.

HSBC SECURITIES AND CAPITAL MARKETS (I) PVT LTD,SBI Capital Markets Limited,DAM Capital Advisors Limited,ICICI Securities Ltd as lead manager(s) & KFIN Technologies Pvt. Ltd. is the registrar, to the issue.