IRFC files IPO draft papers with SEBI


PTI, Jan 20, 2020, 1:53 PM IST

New Delhi: Indian Railway Finance Corporation has filed draft papers with markets regulator SEBI for its initial public offering (IPO).

The public issue is of up to 140,70,69,000 equity shares of which up to 93,80,46,000 equity shares are fresh issue, and up to 46,90,23,000 equity shares are offer for sale, according to the draft red herring prospectus (DRHP).

The net proceeds from the offer are proposed to be utilised towards augmenting the company’s equity capital base to meet future capital requirements arising out of growth in business and general corporate purposes, it said.

IDFC Securities, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets are the book running lead managers to the issue.

The shares of the company are proposed to be listed on the BSE and the NSE.

The company was incorporated as the dedicated market borrowing arm for the Indian Railways and has played a strategic role in financing the latter’s operations, as per the draft prospectus.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Wanted to kill Ajmal Kasab who caused so much of pain, recalls 26/11 terror attack victim

Two retired revenue officials among four arrested in land grabbing case in Jammu

Kerala govt to revise manual for junior doctors, house surgeons

State can interfere with religious practices if they impede development, equality rights: SC

Four cheers at MP’s Kuno park; cheetah Neerva gives birth to cub quartet

HC directs Delhi govt to appoint ex-officio members to state mental health authority

‘Challenge after 44 years’: Supreme Court junks pleas against ‘socialist’, ‘secular’ in Preamble

Related Articles More

Sensex reclaims 80k mark; Nifty surges over 1% after BJP-led Mahayuti’s win in Maharashtra

Rapid digital expansion to create over 1 lakh new jobs in fiber tech in India in next 5 years

Choose correct ITR to report foreign assets; 2 lakh such returns filed: CBDT official

Air India Express increases flight operations from northeast destinations

Mcap of 8 of top-10 most-valued domestic firms jumps Rs 1.55 lakh cr; HDFC Bank, TCS sparkle

MUST WATCH

Coconut Flower

Prakash Belawadi

Naxal Leader Vikram Gowda

Christmas Cake Fruit Mixing

DK Shivakumar


Latest Additions

Wanted to kill Ajmal Kasab who caused so much of pain, recalls 26/11 terror attack victim

Two retired revenue officials among four arrested in land grabbing case in Jammu

Kerala govt to revise manual for junior doctors, house surgeons

State can interfere with religious practices if they impede development, equality rights: SC

Four cheers at MP’s Kuno park; cheetah Neerva gives birth to cub quartet

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.