IRFC IPO allotment status: Here’s how to check

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The share allotment status of Indian Railway Finance Corp (IRFC) IPO will be available from Wednesday, according to the website of the issue’s registrar KFin Technologies Private Limited.

Going with market watchers, the refund process would be initiated on January 27. The credit of shares to Demat accounts will be done on Thursday.

Shares of IRFC are proposed to be listed on Friday.

You can check the website of KFin Technologies to know the allotment status. While checking the allotment status, you have to select the IPO name which is Indian Railway Finance Corporation. Thereafter, you have to fill other required details like application number or Client ID or PAN.

Investors can also check the allotment status on the BSE website.

Earlier, the initial public offer of the company got subscribed 3.49 times on the final day of bidding on January 20.

The offer received bids for 4,35,22,57,225 shares against 1,24,75,05,993 shares on offer.

Qualified Institutional Buyers (QIBs) category was subscribed 3.78 times, non-institutional investors 2.67 times and retail individual investors (RIIs) 3.66 times.

The initial public offer of up to 178.20 crore shares, comprises a fresh issue of up to 118.80 crore shares and an offer for sale of up to 59.40 crore shares.

The price range for the offer was fixed at Rs 25-26 per share.

The company has raised a little over Rs 1,398 crore from anchor investors.

Indian Railway Finance Corp is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets.

Its primary objective is to meet the predominant portion of ‘extra budgetary resources’ requirement of the Indian Railways through market borrowing at the most competitive rates and terms.

DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets were the managers to the offer.