Indian Railway Finance Corporation collects Rs. 1390 crore from 31 of its anchor investors

Anchor Investors of IRFC:- The company has raised Rs. 1390 crore from 31 anchor investors ahead of its proposed IPO. About 53.46 crore equity shares were allotted to anchor investors on 15th January 2021 at an upper price band of Rs. 26 per share.

IRFC IPO

On 13th January 2021, the date of IRFC’s upcoming IPO revealed by the Secretary, Department of Investment and Public Assets Management. “IRFC coming up for listing with an Rs. 4600 cr+ issue in a price band of Rs. 25-26 share. The anchor will book on Jan 15 and the main book from Jan 18-20”, tweet by the secretary.

It was incorporated in 1986, The IRFC is a public sector enterprise that is wholly owned by the government of India. The company 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.

The government plans to sell around 13.64% in the company to raise around Rs, 4633.38 crores at the upper end of the price band.

The bids for the issue can be made for a minimum of 575 shares and in multiples thereafter. Up to 50% of the net issue will be reserved for the Qualified Institutional Buyers (QIB) while the company has reserved not more than 35% of the issue for the retail investors and 15% of the issue will be reserved for the Non-Institutional category.

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Anchor Investors of IRFC

This is the first time when a govt-owned company has made a provision for allotment to anchor investors that will provide assistance in generating more value for the IPO.

The company collected Rs. 1389.86 crore from its anchor investors, here is the complete list of Anchor Investors of IRFC-

⚓ Government of Singapore

⚓ HDFC Trustee Company Ltd.

⚓ Invesco India

⚓ Monetary Authority of Singapore

⚓ SBI Pension Fund

⚓ Kuwait Investment Authority

⚓ Goldman Sachs (Singapore)

⚓ BNP Paribas

⚓ TATA AIG General Insurance Co. Ltd.

⚓ Nippon Life India Trustee Ltd.

⚓ Aditya Birla Sun Life Insurance Co. Ltd.

Also Read- Stove Craft raised Rs. 185 crore from its anchor investors ahead of the IPO

Disclaimer: The information contained in the above article are solely for informational purpose after exercising due care. However, it does not constitute professional advice or a formal recommendation. The author does not own any responsibility for any loss or damage caused to any person, directly or indirectly, for any action taken on the basis of the above article.

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