IRFC IPO Details

IRFC IPOIRFC IPO description – IRFC is a Public Sector Undertaking (PSU) wholly-owned finance by the Government of India acting through the Ministry of Railways. The company is registered with the Reserve Bank of India as a systematically important NBFC and is classified under the category of an “Infrastructure Finance Company”. IRFC is the dedicated market borrowing arm of the Indian Railways. Its primary business is financing the acquisition of rolling stock assets, which includes both powered and unpowered vehicles, for example locomotives, coaches, wagons, trucks, flats, electric multiple units, containers, cranes, trollies of all kinds and other items of rolling stock, leasing of railway infrastructure assets and national projects of the Government of India and lending to other entities under the Ministry of Railways.

The actual capital expenditure of the Indian Railways was INR133,400 crore in FY2019 and IRFC financed INR52,535 crore accounting for 39.38% of the actual capital expenditure. In FY2019, IRFC was responsible for financing 82% of the Indian Railway’s total rolling stock through a financial leasing model with leasing period typically spanning 30 years.

Promoters of IRFC Ltd – The President of India, acting through The Ministry Of Railways, Government Of India
IRFC IPO details
Subscription Dates 18 – 20 January 2021
Price Band INR25 – 28 per share
Fresh issue 1,188,046,000 shares (INR2,970.11 – 3,326.53 crore)
Offer For Sale 594,023,000 shares (INR1,485.06 – 1,663.26 crore) 
Total IPO size INR4,455.17 – 4,989.79 crore
Minimum bid (lot size) 575 shares
Face Value  INR10 per share
Retail Allocation 35%
Listing On NSE, BSE

IRFC’s financial performance (in INR crore)

  FY2018 FY2019 FY2020 H1 FY2021
Revenue 9,207.8 10,987.4 13,421.1 7,384.8
Expenses 6,675.9 8,232.0 10,229.0 5,498.0
Net income 2,002.3 2,140.1 3,191.5 1,887.3
Margin (%) 21.7 19.5 23.8 25.6

Registrar of IRFC IPO

KFin Technologies Private Limited
Selenium Tower B, Plot 31-32,
Gachibowli, Nanakramguda,
Hyderabad – 500 032, Telangana
Phone: +91 40 6716 2222 
Fax:
 +91 40 2343 1551 
Email: [email protected]
Website: www.kfintech.com

IRFC Contact Details

Indian Railway Finance Corporation Limited
UG-Floor, East Tower, NBCC Place,
Bisham Pitamah Marg, Pragati Vihar,
Lodhi Road, New Delhi – 110 003
Phone: +91 11 2290 0600
Email: [email protected]
Website: www.irfc.nic.in

Valuation of IRFC (as of FY2020)

Earnings Per Share (EPS): INR3.40
Price/Earnings (PE ratio): 7.35 – 8.23 
Return on Net Worth (RONW): 11.57%
Net Asset Value (NAV): INR25.50 per share

IRFC IPO Subscription Details

Category Shares offered Subscription (no. of times)
Day 1 Day 2 Day 3
QIB        
NII        
Retail        
         
Total        

IRFC IPO Analyst Reviews

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IRFC IPO Allotment Status

IRFC IPO allotment status will be available on KFin Technologies’ website. Click on this link to get allotment status. 

Listing Performance of Indian Railway Finance Corporation

IPO Opening Date: 18 January 2021
IPO Closing Date: 20 January 2021
Finalisation of Basis of Allotment: 25 January 2021
Initiation of refunds: 27 January 2021
Transfer of shares to demat accounts: 28 January 2021
Listing Date: 29 January 2021
Opening Price on NSE: To be updated
Closing Price on NSE: To be updated

7 COMMENTS

  1. Very good company and it is very much future proof. Railway will always be in need of more locomotives and wagons which will mean more business for IRFC. Excellent numbers and margins. A must apply IMO.

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