IRFC IPO share allotment to be finalised today

Hyderabad, IRFC IPO: After the initial two days of subscription, Home First Finance IPO has so far been subscribed 2.22 times.

Today will be the last day for investors to subscribe to the technology drive non-banking finance company’s issue.

IRFC IPO listing date:

As per the exchange, IPO share allotment process takes six working days from the issue closing date. The IRFC IPO opened for bidding on Jan 18 and closed on January 20.

Once the finalisation is done, credit of equity shares will start from January 28. The listing is scheduled for January 29 and equity shares will be listed on both the exchanges — BSE and NSE. The refunds will be strart from January 27.

IRFC IPO status:

Bidders can visit the BSE and NSE websites to check their status. Exchange will also provide allotment information as provided by the registrar to the issue. To avail this facility, investor has to register one time by providing the PAN details. The user shall be able to view the details of the bids entered against registered PAN number.

On registration, the investor will receive an email notification from NSE on the registered email address providing the login details.

The third IPO of 2021, Home First Finance is just behind IRFC and Indigo Paints. While today will be the last day for Home First’s IPO, the day will also mark the opening of Stove Kraft Ltd’s issue. The kitchen appliance manufacturer and home solutions firm is looking to raise Rs 412 crore from investors.

The offer received bids for 4,35,22,57,225 shares against 1,24,75,05,993 shares on offer. The retail individual investors segment was subscribed 3.66 times while Qualified Institutional Buyers (QIBs) category 3.78 times and non-institutional investors 2.67 times.

IRFC:

Price range for the offer was fixed at Rs. 25-26 per share. Ahead of the IPO, IRFC had raised about Rs. 1,400 crore from anchor investors.

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

The budgeted disinvestment mop up for current fiscal is Rs 2.10 lakh crore. Of this Rs 1.20 lakh crore is to come from minority stake sale in CPSEs and Rs 90,000 crore from stake sale in state-owned financial institutions.

DAM Capital Advisors Limited, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets were the managers to the offer. The government will get Rs. 1,544 crore from the initial public offering. Many brokerages had recommended subscribe for IRFC IPO, citing attractive valuation and ‘healthy return’ ratios.

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