Indian Railway Finance Corporation is expected to finalise the basis of allotment on January 25, as per the tentative schedule available in the prospectus.
The dedicated market borrowing arm of the Indian Railways closed its three-day public issue on January 20, which was subscribed 3.49 times. The reserved portion of qualified institutional buyers witnessed a subscription of 3.78 times, non-institutional investors (2.67 times) and retail (3.66 times).
The unblocking of funds from ASBA account will take place on January 27 and the shares will get credited to demat accounts of eligible investors on January 28, followed by listing of shares on January 29.
Investors can check the allotment status in a few easy steps on the website of the registrar.
>> One should select IPO (Indian Railway Finance Corporation).
>> In case of application number, select application type (ASBA or NON-ASBA) and enter Application Number.
In case of DPID/Client ID, select depository (NSDL/CDSL), and enter DPID and Client ID.
In case of PAN, just enter PAN.
>> Enter Captcha (which is available in digits) and finally click on submit button.
Investors can also check the status on the BSE Website.
Select Issue Type (Equity), select Issue Name (Indian Railway Finance Corporation), Enter Application Number and PAN and finally click on the Search button.
If the abovementioned information is correct, then you will be able to see the number of shares you have been allotted.
IRFC raised Rs 4,633 crore via public issue which had comprised of a fresh issue of Rs 3,088.9 crore and an offer for sale of Rs 1,544 crore by the Government of India through Ministry of Railways.
The state-owned entity will utilise fresh issue proceeds for augmenting the equity capital base to meet the future capital requirements arising out of growth in the business.
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Its primary business is financing the acquisition of rolling stock assets, which includes both powered and unpowered vehicles. It is also engaged in leasing of railway infrastructure assets and national projects of the Government of India (Project Assets) and lending to other entities under the Ministry of Railways.Home First Finance Company IPO opens: Should you subscribe?