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The IRFC IPO is now open for subscription till January 20. Covered ahead is the latest news around IRFC IPO and live subscription updates. 

Also Read: How to invest in IRFC IPO on Groww. 

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January 29- IRFC Listing Day

IRFC Lists At 4% Discount

  • The shares of IRFC listed at Rs 24.9 per share on the NSE, a discount of 4.23% to its issue price of Rs 26 per share.

January 20-Day 3

As on 4.50 p.m.

IRFC IPO has been subscribed 3.45 times.

  • Total bids received: 430 crore shares
  • Offer size: 124.75 crore equity shares (excluding anchor book portion)

Subscription details for each investor category:

  • Retail investors: 3.6 times
  • Employees: 43.75 times
  • Non-institutional investor: 2.6 times
  • Qualified institutional buyers: 3.8 times

As on 2.30 p.m.

IRFC IPO has been subscribed 2.47 times.

  • Total bids received: 309.48 crore shares
  • Offer size: 124.75 crore equity shares (excluding anchor book portion)

Subscription details for each investor category:

  • Retail investors: 3.15 times
  • Employees: 33 times
  • Non-institutional investor: 94% of the portion reserved
  • Qualified institutional buyers: 2.4 times

As of 12.40 p.m.

IRFC IPO has been subscribed 1.44 times.

  • Total bids received: 180 crore shares
  • Offer size: 124.75 crore equity shares (excluding anchor book portion)

Subscription details for each investor category:

  • Retail investors: 2.6 times
  • Employees: 30 times
  • Non-institutional investor: 33% of the portion reserved
  • Qualified institutional buyers: 21% of the portion reserve

January 19- Day 2

As of 5.00 p.m.

IRFC IPO has been subscribed 1.22 times so far.

  • Total bids received: 152.64 crore shares
    Offer size: 124.75 crore equity shares (excluding anchor book portion)

Subscription details for each investor category:

  • Retail investors: 2.33 times
  • Employees: 27.41 times
  • Non-institutional investor: 24% of the portion reserved
  • Qualified institutional buyers: 0.16% of the portion reserve

Updated as on 19-Jan-2021 at 5.00 p.m.

SR. NO. CATEGORY NO OF SHARES OFFERED/ RESERVED NO OF SHARES BID FOR NO OF TIMES OF TOTAL MEANT FOR THE CATEGORY
1 Qualified Institutional Buyers (QIBs) 35,63,75,339 5,80,175
2 Non Institutional Investors 26,72,81,504 6,46,39,775 0.24
3 Retail Individual Investors(RIIs) 62,36,56,843 1,45,59,14,375 2.33
4 Employees 1,92,307 52,70,450 27.41
Total 1,24,75,05,993 1,52,64,04,775 1.22

Source: NSE

As of 3.53 p.m.

IRFC has been subscribed 1.08 times so far.

  • Total bids received: 135 crore shares
    Offer size: 124.75 crore equity shares (excluding anchor book portion)

Subscription details for each investor category:

  • Retail investors: 2.08 times
  • Employees: 18.9 times
  • Non-institutional investor: 18.8% of the portion reserved
  • Qualified institutional buyers: 0.16% of the portion reserve

As of 2.45 p.m.

IRFC has been subscribed 1.01 times so far.

  • Total bids received: 126.7 crore shares
    Offer size: 124.75 crore equity shares (excluding anchor book portion)

Subscription details for each investor category:

  • Retail investors: 1.95 times
  • Employees: 18.27 times
  • Non-institutional investor: 17.4% of the portion reserved
  • Qualified institutional buyers: 0.02% of the portion reserve

As of 12.20 p.m.

IRFC IPO has been subscribed 85% so far on January 19, which is the second day of bidding.

  • Total bids received: 106.8 crore share
  • Total offer size: Around 124.75 crore shares (excluding anchor book portion)

Subscription details for each investor category

  • Retail investors: Subscribed 1.65 times
  • Employees: Subscribed 16.74 times
  • Non-instituitonal investors: 11.3%
  • Qualified institutional buyers: 0.02%

January 18-Day 1

As of 5.00 p.m.

IRFC IPO was subscribed 0.65 times at the end of Day 1 of bidding.

Subscription details for each investor category:

  • Qualified institutional investors subscription is minimal
  • Non-institutional investors subscribed 0.09 times
  • Retail individual investors subscribed 1.25 times

Cumulative (BSE+NSE) Subscription Details:

Updated as on 18 Jan 2021 at 1700 hrs

SR. NO. CATEGORY NO OF SHARES OFFERED/ RESERVED NO OF SHARES BID FOR NO OF TIMES OF TOTAL MEANT FOR THE CATEGORY
1 Qualified Institutional Buyers (QIBs) 35,63,75,339 50,600
2 Non Institutional Investors 26,72,81,504 2,46,23,800 0.09
3 Retail Individual Investors(RIIs) 62,36,56,843 78,16,55,000 1.25
4 Employees 1,92,307 26,01,300 13.53
Total 1,24,75,05,993 80,89,30,700 0.65
Source: NSE

As of 12.45 p.m.

IRFC IPO was subscribed 0.15 times according to information available on NSE.

Subscription details for each investor category:

  • Qualified Institutional Buyers: No information available
  • Non-institutional buyers: Subscribed 0.01 times
  • Retail individual investors: Subscribed 0.43 times
  • Employees: 0.57 times

NSE Subscription Details:

Updated as on 18-Jan-2021 12:45:02 hrs

SR. NO. CATEGORY NO OF SHARES OFFERED/ RESERVED NO OF SHARES BID FOR NO OF TIMES OF TOTAL MEANT FOR THE CATEGORY
1 Qualified Institutional Buyers(QIBs) 89,09,38,346
2 Non Institutional Investors 26,72,81,504 28,08,300 0.01
3 Retail Individual Investors(RIIs) 62,36,56,843 26,94,70,300 0.43
4 Employees 1,92,307 1,09,825 0.57
Total 1,78,20,69,000 27,23,88,425 0.15
Source: NSE

Friday, January 15

A few days before the launch of the IPO, the Indian Railway Finance Corporation (IRFC) raised Rs.1398.63 crore from 31 anchor investors. On Friday, January 15, 2021, the company allocated 53.45 crore equity shares at Rs.26 per share to anchor investors. With the IPO slated to be launched to the public On January 18, 2021, IRFC is looking to raise around Rs.4633 crore via a fresh issue and offer for sale.

The anchor investors included some well-known names like:

  • BNP Paribas – an investment of Rs.44.97 crore
  • Goldman Sachs (Singapore) PTE – an investment of Rs.29.98 crore
  • The Monetary Authority of Singapore – an investment of Rs.57.62 crore
  • Kuwait Investment Authority – an investment of Rs.39.98 crore
  • HDFC Equity Fund – an investment of Rs.268 crore
  • Nippon India Tax Saver (ELSS) Fund – an investment of Rs.124.99 crore, etc.

Who are Anchor Investors?

The concept of anchor investors was introduced by SEBI in 2009 as institutional investors invited by the issuing company to subscribe to shares before the opening date of an IPO. This can be done to make the IPO seem attractive to retail investors by highlighting the interest shown by renowned investment companies in the share. While SEBI mandates an investment of at least Rs.10 crore by each anchor investor, it also prohibits them from selling the allotted shares up to 30 days from the date of allotment.

About the IRFC IPO

IRFC is launching the IPO for a fresh issue of up to 1,188,046,000 shares totaling Rs.3088 crore and an offer for sale of up to 594,023,000 shares totaling Rs.1544 crore. The opening date of the IPO is Monday, January 18, 2021, and the closing date is Wednesday, January 20, 2021. The price band is Rs.25-26 per share and the lot size is 575 shares. Hence, retail investors need to invest at least Rs.14950 per lot. Retail investors will be able to bid for 35% of the issue, with 15% earmarked for HNIs, and 50% for Qualified Institutional Buyers.

IRFC has no non-performing assets, RoE (Return on Equity) of 12.2%, and profitability growth of 26.3% during the financial years 2018-2020.

About IRFC

Indian Railway Finance Corporation (IRFC) is the dedicated borrowing arm of the Indian Railways. It has a low-risk business model with strong asset-liability management and an experienced senior management team, making it a fundamentally strong company. Also, IRFC holds the highest credit rating for an NBFC in India from rating agencies like CRISIL (rating of AAA and A1+), ICRA (rating of AAA and A1+), and CARE (rating of AAA and A1+). Further, Moody’s rates IRFC Baa3 (negative), Standard and Poor rates it BBB-(stable), and Fitch rates it BBB- (Negative). The President of India is the promoter of the company acting via the Indian Railways.

Watch this space for live updates on IRFC IPO.

Happy Investing!

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.

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