IRFC IPO GMP Today, Check Daily Movement

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IRFC IPO is all set to open for subscription on 18 January 2021 as the first public offer in the new year. The upcoming IPO is priced at INR25 – 28 per share and the company plans to mobilize as much as INR4,990 crore at the upper end of the price band. Let’s take a look at IRFC IPO GMP right after the vital details of the offer:

IRFC Public Offer 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

Given its size, investors have better allotment chances in IRFC IPO. At the same time, the company has impressive financial performance which makes it one of the interesting IPOs this year. Although the grey premium isn’t very strong in this IPO, the rates are increasing and buoyant sentiments in the secondary markets are likely to result in oversubscription for this offer.

Read Also: Upcoming IPOs in 2021 – Most interesting IPOs lined up

IRFC IPO GMP (Grey Market Premium) rates

Date GMP (in INR) Kostak (in INR) Subject to Sauda (in INR)
15 Jan 20211.4400
14 Jan 20211.5400
13 Jan 2021 2 500 1,200
12 Jan 2021 1.75 500 1,200
11 Jan 2021 1.75 500 1,100
9 Jan 2021 1.5 400 1,000

The PSU under the Ministry of Railways acts as the financing arm of Indian Railways and offers project financing and rolling stock leasing to railways. The company boasts of superb profitability which stood at 26.7% in FY2020 and being a PSU, it pays regular dividends. Given the governments continued focus on railway infrastructure upgradation, IRFC has bright future and its low-risk business model makes it a suitable investment option for IPO investors.

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