Indian Railway Finance Corp.Ltd. IPO
IPO Timeline
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 890,938,346 (50%) | — | ₹231,644 Cr |
| NII (HNI) | — | 267,281,504 (15%) | — | ₹69,493 Cr |
| Retail | — | 623,656,843 (35%) | — | ₹162,151 Cr |
| Employee | — | 192,307 (0%) | — | ₹5 Cr |
| Σ Total | — | 1,782,069,000 (100%) | — | ₹4,633,379 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 575 | ₹14,950 |
| Retail (Max) | 13 | 7,475 | ₹194,350 |
| S-HNI (Min) | 14 | 8,050 | ₹209,300 |
| B-HNI (Min) | 67 | 38,525 | ₹1,001,650 |
Financial Statements Amount in Crore
| Metric | 30-Sep-20 | 31-Mar-20 | 31-Mar-19 |
|---|---|---|---|
| Revenue | 7,385 | 13,421 | 10,987 |
| Profit After Tax | 1,887 | 3,192 | 3,192 |
| Total Assets | 291,987 | 275,504 | 275,504 |
Valuation & Key Ratios
Grey Market Premium (GMP)
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 To carry out the disinvestment of 20,160,000 Equity Shares by the Selling Shareholder constituting 12.60% of our Company’s paid up Equity Share capital our Company; and –
- 2 To achieve the benefits of listing the Equity Shares on the Stock Exchanges –
Company Overview
Incorporated in 1986, the Indian Railway Finance Corporation (IRFC) is a public-sector enterprise that is wholly-owned by the Government of India. IRFC is primarily engaged in financing the acquisition of rolling stock assets, leasing of railway infrastructure assets, and lending to entities under the Ministry of Railways (MoR). Being the borrowing arm of Indian Railways, IRFC is responsible to raise funds for MoR that is required to procure rolling stock assets (wagons, trucks, electric multiple units, locomotives, coaches), its improvement, expansion, and assets management.
It follows a financial leasing model to finance rolling stock assets procurement for a lease period of 30 years. In fiscal 2019, the actual capital expenditures by the Indian Railways were Rs. 1,334 billion, out of which, IRFC financed Rs. 525.35 bn accounting for 39.34% expenditures.
Competitive strengths
- Strategic role in Indian Railways growth.
- Sound credit rating i.e. CRISIL AAA/A1+ and ICRA AAA/A1+.
- Competitive cost of borrowing.
- Strong financial performance.
- Sound asset-liability management.
- Experienced management team.