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IRFC IPO – Does it offer value?

IRFC remains strategically important as it raises around 25-35 per cent of the total planned outlay of the Ministry of Railways

January 18, 2021 / 05:09 PM IST
IRFC IPO – Does it offer value?

PRO Only Highlights
Quarterly performance largely backed by improved realisations
Medium-term triggers China plus and protectionist measures for tyre industry
Valuations not inexpensive; but improved medium-term outlook

The initial public issue of Rs 4,633 crore from Indian Railway Finance Corporation (IRFC), the dedicated financing arm of Indian Railways, opens for subscription today. The issue consists of an offer for sale from the Government of India amounting to Rs 1,544 crore and fresh capital raise of around Rs 3,089 crore. At a time when equity markets look overheated with many stocks now trading at full or stretched valuation, the primary issue of this non-bank classified as infrastructure financing...

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