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Indian Railway Finance Corporation shares fall 4.4% to close at Rs 24.85 on debut

Shares hit an intraday high of Rs 25.80 and a low of Rs 24.30, with volumes of over 2.62 crore shares.

January 29, 2021 / 06:30 PM IST
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Indian Railway Finance Corporation (IRFC) shares closed at a discount of 4.42 percent to the issue price amid weak market conditions on its debut on January 29.

The stock ended the session at Rs 24.85 against the issue price of Rs 26 on the BSE after hitting an intraday high of Rs 25.80 and a low of Rs 24.30, with volumes of over 2.62 crore shares. The opening price was Rs 25.

On the National Stock Exchange, IRFC shares fell 4.62 percent to close at Rs 24.80, with volumes of more than 38.19 crore equity shares.

The financing subsidiary of the Indian Railways raised Rs 4,633 crore via the public issue last week. The proceeds from the fresh issue will be utilised for future capital requirements, IRFC has said.