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IRFC IPO: 95% subscribed IPO on 2nd day of issue
Business

IRFC IPO: 95% subscribed IPO on second day of issue, retail postion filled 1.8 times

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IRFC IPO: Indian Railway Finance Corporation’s IPO subscribed 95% on 19 January. Retail investors have a higher stake in it. The company has issued 118.7 crore equity shares while 124.75 crore equity shares have been bid for. It does not include the anchor book porcelain.

The portions that IRFC has set aside for retail investors have subscribed 1.8 times. While the portion set aside for the employees has been filled 17.61 times. The share of non-institutional investors is 14.7 per cent while the share of institutional investors is 0.02 per cent.

IRFC is a loan company for Indian Railways. The company plans to raise Rs 4633 crore through an IPO. 1390 crore rupees have already been received from the anchor investors of the company.

What should investors do?

Choice Broking recommends investing in an IPO of IRFC. This IPO is better for investment from a long-term perspective. According to media reports, Nirali Shah, senior research analyst at Samco Securities, said that IRFC Indigo Paints is the major IPO to come in 2021. It is expected that even after this the IPO market will be full. Experts believe that IPO and FPO are benefiting from the returned investment in the market. This is a better sign. Investors are advised to buy into these IPOs and recover their profits if given a chance.

Also Read: Share Market Tips: General budget is going to come, will the market fall drastically? Know what the experts say

IRFC has raised Rs 1,390 crore from anchor investors. It was established in the year 1986. IRFC works to raise funds for Indian Railways from the domestic and overseas markets. Pune-based Indigo Paints is in the business of making paints. It has a large network across the country. The company has 3 manufacturing facilities in Rajasthan, Kerala and Tamil Nadu.

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Divya Sharma

Editor in Chief with Newsinheadlines, Author, Cover Story around Business and Entrepreneurship.

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