Mutual Funds Commodities Research Tax Planning IPO Our Team Contact Us  
Google
Web www.equitybulls.com
IPO News

| More

Indian Railway Finance Corporation Limited IPO to open on Monday, January 18, 2021

Posted On: 2021-01-13 08:58:43 (Time Zone: Arizona, USA)


Indian Railway Finance Corporation Limited (the "Company'), the dedicated market borrowing arm of the Indian Railways, will open the Bid/ Issue Period in relation to its initial public offering of equity shares of face value of Rs. 10 each ("Equity Shares" and such initial public offering, the "Issue") on Monday, January 18, 2021. The Bid/ Issue Period will close on Wednesday, January 20, 2021. The price band of the Issue has been fixed at Rs 25 to Rs 26 per Equity Share.

Initial Public Offering of up to 1,782,069,000 Equity Shares of face value of Rs. 10 each. The initial public offering comprises of a fresh issue of up to 1,188,046,000 Equity Shares ("Fresh Issue") and an offer for sale of up to 594,023,000 Equity Shares by the President of India, acting through the Ministry of Railways ("Selling Shareholder") ("Offer For Sale"). The issue includes a reservation aggregating to Rs. 5.00 million for subscription by eligible employees (as defined herein) ("Employee Reservation Portion"). The issue less employee reservation portion is referred to as the Net Issue. The issue and the net issue will constitute up to 13.64% and [-]% respectively, of the post issue paid-up equity share capital of the company.

Bids can be made for a minimum of 575 Equity Shares and in multiples of 575 Equity Shares thereafter.

The Issue is being made in terms of Rule 19(2)(b) of the Securities Contracts (Regulation) Rules, 1957, as amended ("SCRR"), read with Regulation 31 of the Securities and Exchange Board of India (Issue of Capital and Disclosure Requirements) Regulations, 2018, as amended ("SEBI ICDR Regulations"). In accordance with Regulation 6(1) of the SEBI ICDR Regulations, the Issue is being made through the Book Building Process wherein not more than 50% of the Net Issue shall be available for allocation on a proportionate basis to Qualified Institutional Buyers ("QIBs") ("QIB Portion"), provided that the Company and the Selling Shareholder, in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations ("Anchor Investor Portion"), of which one-third shall be reserved for domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of undersubscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the Net QIB Portion. Further 5% of the Net QIB Portion shall be available for allocation on a proportionate basis to Mutual Funds only and the remainder of the Net QIB Portion shall be available for allocation on a proportionate basis to all QIB Bidders including Mutual Funds, subject to valid Bids being received at or above the Issue Price. However, if the aggregate demand from Mutual Funds is less than 5% of the Net QIB Portion, the balance Equity Shares available for allocation in the Mutual Fund Portion will be added to the remaining Net QIB Portion for proportionate allocation to QIBs.

Further, not less than 15% of the Net Issue shall be available for allocation on a proportionate basis to Non-Institutional Bidders and not less than 35% of the Net Issue shall be available for allocation to Retail Individual Bidders in accordance with the SEBI ICDR Regulations, subject to valid Bids being received at or above the Issue Price. Further, [-] Equity Shares shall be reserved for allocation on a proportionate basis to Eligible Employees bidding under the Employee Reservation Portion, subject to valid bids being received at or above the Issue Price. All potential Bidders (except Anchor Investors) shall mandatorily participate in the Issue through an Application Supported by Blocked Amount ("ASBA") process by providing details of the bank account which will be blocked by the Self Certified Syndicate Banks ("SCSBs"). Anchor Investors are not permitted to participate in the Issue through the ASBA process.

The Net Proceeds from the Fresh Issue are proposed to be utilised for (i) augmenting the equity capital base of the Company to meet their future capital requirements arising out of growth in their business; and for (ii) general corporate purposes.

The Equity Shares offered in the Issue are proposed to be listed at BSE Limited ("BSE") and the National Stock Exchange of India Limited ("NSE", together with BSE, the "Stock Exchanges").

DAM Capital Advisors Limited (formerly known as IDFC Securities Limited), HSBC Securities and Capital Markets (India) Private Limited, ICICI Securities Limited and SBI Capital Markets Limited are the Book Running Lead Managers to the Issue.

All capitalized terms used herein and not specifically defined shall have the same meaning as ascribed to them in the Red Herring Prospectus ("RHP").


Source: Equity Bulls

Click here to send ur comments or to feedback@equitybulls.com


Other Headlines:

India Pesticides Limited raises 240 Cr from 12 Anchor Investors

GR Infraprojects Limited gets SEBI approval to float IPO

India Pesticides Limited IPO to open on Wednesday, June 23, 2021 and close on Friday, June 25, 2021

Sona Comstar IPO subscribed 2.33 times, QIB portion booked 3.54 times

Shyam Metalics IPO subscribed 121.42 times, NII portion booked 339.98 times

Dodla Dairy Limited raises Rs. 156.05 crore from 18 anchor investors

Top 10 Things To Know about Krishna Institute of Medical Sciences Ltd

Top 10 Things To Know about Dodla Dairy IPO

Sona Comstar Retail book fully subscribed on Day 2

Shyam Metalics subscribed 3.63 times, Retail portion booked 5.80 times on Day 2

Shyam Metalics subscribed 1.22 times, Retail portion booked 2.19 times on Day 1

Paras Defence And Space Technologies Limited gets SEBI approval to float IPO

Sona Comstar subscribed 11%, Retail portion booked 52% on Day 1

Sona Comstar raises INR 2,498 Crores, 45% of the total IPO size, in India's 3rd largest ever IPO anchor book

Shyam Metalics raises Rs. 270 Cr from 21 Anchor Investors

Dodla Dairy Limited IPO to hit markets on June 16, 2021

Krishna Institute of Medical Sciences Limited's IPO opens for subscription on Wednesday, June 16, 2021

Utkarsh Small Finance Bank gets SEBI approval to float IPO

Global Automotive Supplier Sona Comstar IPO to open on June 14, 2021, closes on June 16, 2021

Shyam Metalics & Energy Limited's IPO to open on June 14, 2021

Kolkata Steel Major, Shyam Metalics & Energy receives SEBI Nod for Rs. 1107 cr IPO

Car Trade Tech files for Rs. 2000 Crores IPO

Retail focused HFC, Aptus Value Housing files for Rs. 3000 Cr IPO

Leading QSR Player, Devyani International files for Rs. 1400 Cr IPO

South Cement Major, Penna files for Rs 1550 Crore IPO

GoAir files DRHP with SEBI for Rs. 3,600 crore IPO

Sona Comstar receives SEBI Nod for Rs. 6000 crore IPO

Nirma Group backed, Nuvoco Vistas files for 5k cr IPO

POWERGRID Infrastructure Investment Trust to open IPO of its Units on April 29, 2021 and close on May 3, 2021

Udaipur based GR Infraprojects Ltd files for IPO

Macrotech Developers IPO final day: Issue subscribed 1.37 times, QIB portion booked 3.06 times

Macrotech Developers Limited subscribed 35% on Day 2

Macrotech Developers Limited subscribed 27%, QIB portion booked 59% on Day 1

Vadodara based Tatva Chintan Pharma Chem Limited plans for IPO files DRHP with SEBI

Macrotech Developers Limited IPO to open on April 7, 2021, closes on April 9, 2021

Haridwar based, V-Marc India subscribed 1.54 times on issue closing

SME IPO V-Marc India subscribed 63% on Second Day

Grilled to Perfection: Barbeque Nation subscribed 5.98 times overall

Barbeque Nation overall subscribed 1.98 times on Day 2

Barbeque-Nation raises Rs. 202 Cr from 15 Anchor Investors

V-Marc India Limited Initial Public Offering of Equity Shares opens

Gujarat based, Exxaro Tiles files for Rs. 160 cr IPO

Paras Defense And Space Technologies Ltd. files for IPO

Craftsman Automation Limited IPO to open on March 15, 2021, Price band fixed at ₹1,488 to ₹1,490 per Equity Share

Laxmi Organic Industries Limited IPO to open on Monday, March 15, 2021

Anupam Rasayan India Limited IPO of Equity Shares to open on Friday, March 12, 2021

MTAR Technologies sky-rockets with record 200.79 times overall subscription on Day 3

Utkarsh Small Finance Bank files for Rs. 1350 cr IPO

MTAR Technologies overall subscribed 10.27 times on Day 2

MTAR Technologies IPO skyrockets 3.68 times on Day 1


Website Created & Maintained by : Chennai Scripts
West Mambalam, Chennai - 600 033,
Tamil Nadu, India

disclaimer copyright © 2005 - 2020