Indian Railway Finance Corporation is planning to launch it’s IPO on January 18, 2021 and price per share is fixed at Rs.25-26. The IPO will remain open for 3 days and will close down on Jan 20, 2021.
The Indian Railway’s is planning to raise funds worth Rs.4633.4 crore by offering 1,78,20,69,000 equity shares which consist fresh issue of equity shares 1,18,80,46,000 and an offer for sale of 59,40,23,000 equity shares. Any proceedings from offer for sale will be received by Indian Government and not the IRFC.
50,00,000 equity shares have been reserved for eligible employees of IRFC. With the funding the raised the Railways plan to meet future capital requirements to meet future growth and general corporate purposes.