The IPO market was very spectacular for investors in the year 2020. Around 15 big companies launched IPOs. In which almost all the IPOs were listed and the investors made a lot of money. Many IPOs were listed at twice the price band.
The market is going to be buzzing with IPO in the year 2021 too, many big companies are preparing to launch IPO. In this episode, the first IPO of 2021 is going to open on 18 January and will close on 20 January 2021. This IPO is being brought by the Indian Railway Finance Corporation (IRFC) to raise Rs 4,600 crore. This IPO of IRFC is the first IPO of any non-banking financial company (NBFC) in the country. IRFC is the first NBFC in the public sector. Retail investors will be able to invest in this IPO from January 18 to January 20. At the same time, this IPO will open for anchor investors only on 15 January.
Indian Railway Finance Corporation has fixed the issue price of the stock for this IPO i.e. 25 to 26 rupees. Investors will have to apply for at least 575 shares in this IPO. That is, the lot size of this IPO is 575 shares. Investors will be able to apply for a maximum of 13 lots.
IRFC will issue a total of 178 crore shares for this IPO. Earlier, the Indian Railways Catering Tourism Corporation (IRCTC) of the Railway Department has brought an IPO, whereas, RailTEL’s IPO is coming soon. The IPO of IRCTC received tremendous response.
50 lakh shares reserved for IRFC employees
In this IPO, 50 lakh shares have been reserved for the employees of IRFC. The company will use the funds raised from the IPO to meet business needs and its corporate expenses in the future for business growth.