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IRFC's Rs 4,500-crore IPO subscribed 3.7 times on the final day

Market players said the response was lukewarm when compared to some of the recent issues

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t the top-end of the price band of Rs 26, IRFC will have a market capitalisation of nearly Rs 34,000 crore — almost equal to its FY20 book value on the diluted basis

BS Reporter Mumbai

1 min read Last Updated : Jan 21 2021 | 1:05 AM IST

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State-owned Indian Railway Finance Corporation (IRFC) garnered 3.5 times subscription, helping the Centre mop up Rs 1,500 crore. The retail and institutional portion of the issue was subscribed around 3.7 times each, while the high net-worth individual portion garnered 2.7 times subscription.

Market players said the response was lukewarm when compared to some of the recent issues. They said the large issue size and unattractive grey market premium led to the tepid response. The overall issue size was Rs 4,500 crore—two-thirds of it being fresh fund raise. The employee portion of the IPO was subscribed 44 times. At

Topics : IRFC Indian Railway Finance Corporation initial public offerings IPOs

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