IRFC IPO was open for subscription between January 18 and 20. The allotment will be finalised around January 25. The price band for the IPO was Rs 25-26 and the minimum lot was 575 shares.
Read more on Groww: IRFC IPO – Indian Railway Finance Corporation IPO
The IRFC IPO allotment is yet to be finalised. Here’s how you can check the allotment status:
There are three primary ways to check the status:
a) Check Allotment Status on Groww
Once the allotment status is finalised, you can check your status on Groww, if you had applied for this IPO on our platform. Here are the steps:-
Step 1: Open the Groww App, scroll down the homepage/dashboard to see the ‘IPOs’ section.
Step 2: Click on IPOs. On the next page click on the ‘Status’ tab next to IRFC IPO (or any other IPO you had applied for). The status tab will not be visible if you have not applied for the IPO.
Step 3: If your IPO application has been successful, the IPO status will show as ‘Approved’.
Step 4: If you have received the allotment in the IPO, your IPO status will say ‘Approved’ and not ‘Allotted’. In case you do not receive the allotment, the status will say ‘Not Allotted’.
b) Registrar website
The registrar for the IPO is KFintech Private Limited and the shares are proposed to be listed on the BSE and NSE.
After you land on the website’s IPO status page, you will see a drop-down menu that says ‘Select Menu’.
- From the drop-down menu, select ‘Indian Railways Finance Corporation’.
- For identification, you can give your PAN number, application number DP/client ID, account number/IFSC code.
You can also check the allotment status on the Bombay Stock Exchange’s
After you click on the link, you will have to feed in your application number and PAN number to check your allotment status.
FAQs on IRFC IPO Allotment
How do I know if I have received IRFC Allotment or not?
We have discussed the steps for the same above.
What happens to the IPO amount in my bank account?
After applying for an IPO, the required amount is blocked for use from your account. Hence the money is still showing in your balance but is blocked for use.
Can we know the IRFC listing price?
Knowing the price at which the shares will list is almost impossible. The companies do have an issue price. But the listing price depends on the grey market transactions. Say the issue price was around Rs 200, and it was trading at a grey market premium of Rs 20 then we can expect the shares to list at around Rs 220. However, nothing can be said with certainty.
What is the grey market?
Grey market for an IPO is an unofficial market where the transactions that take place are ‘over-the-counter’ (OTC) in nature. They are mostly are dealt with in cash. Because of its unofficial and OTC nature, there are no rules around it. The transactions are done among a smaller group of people. So the IRFC listing price will depend on the grey market premium. The listing premium/discount is higher/lower than the issue price.
How are the IRFC shares being allotted?
If IRFC IPO is oversubscribed, the shares will be distributed proportionately among investors so that each investor gets minimum one lot. This is done on a lottery basis, so there cannot be a guarantee that you will get the shares. It is possible that few investors do not get any shares at all, in case of over-subscription.
Why did I not get IRFC allotment?
There are multiple reasons why an investor may not get the allotment:
- Pure Luck: As mentioned earlier, shares are allotted on a lottery basis. In case of oversubscription, not everyone will be assigned shares.
- Information mismatch: If your IRFC IPO application has any incomplete information or there is a mismatch in your credentials
- If your bid price is not within the price band
Will my money come back if I don’t get IRFC IPO allotment?
If you don’t get the allotment in IRFC IPO, the amount will be unblocked, and you will be able to use the amount in your bank account.
When will IRFC IPO get listed?
IRFC shares will get listed on BSE and NSE on January 29, 2021 tentatively.
Investment in securities market are subject to market risks, read all the related documents carefully before investing. Please read the Risk Disclosure documents carefully before investing in Equity Shares, Derivatives, Mutual fund, and/or other instruments traded on the Stock Exchanges. As investments are subject to market risks and price fluctuation risk, there is no assurance or guarantee that the investment objectives shall be achieved. NBT do not guarantee any assured returns on any investments. Past performance of securities/instruments is not indicative of their future performance.