Indian Railway Finance Corporation (IRFC) has raised Rs 1,390 crore from anchor investors ahead of the launch of its proposed initial public offer (IPO).
It is the first time, when state owned company has made provisions for allotment to anchor investors to help improve more value for the IPO.
Details of Anchor Investors
There were total of 31 Anchor Investors participated in the funding round, and about 53.46 crore equity shares were allotted to them at an upper price band of Rs 26 per share.
About 61% of the anchor portion was allotted to four domestic mutual funds such as HDFC, Nippon Life, Invesco and ITPL
About 16.93% was subscribed by the Government Of Singapore.
Other anchor investors include Monetary Authority of Singapore, SBI Pension Fund, PNB Paribas, Kuwait Investment Authority, Kotak Mahindra International, Tata AIG General Insurance, Rising India Focus Fund and Aditya Birla Sun Life Insurance.
About IPO
The Rs 4,633-crore IPO of IRFC is set to open for subscription on Monday, January 18, 2021, in the price band of Rs 25-26 apiece.
See all the details of the IPO here,
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