Indian Railway Finance Corporation lists at 4% discount on IPO price

Indian Railway Finance Corporation share appeared at a markdown over its issue cost on the BSE on January 29. The stock opened at Rs 25 on the trade against the IPO cost of Rs 26 for each offer. On the National Stock Exchange, the stock recorded a 4 percent rebate at Rs 24.90.

The listing price was as anticipated, given the weak market conditions, the falling premium, and lower than anticipated subscription figures.

The Sensex and Nifty50 have fallen over 6 percent in the last five meetings following reliable FII outflow, instability in the approach preceding the Union Budget to be introduced on February 1, and the combat among Indian and Chinese soldiers along the LAC.

Indian Railways raised Rs 4,633 crores through its public issue, which was bought 3.49 times during January 18-20. IRFC will use new issue revenue for future capital necessities.

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