Check these important IPO’s launching in the next week



News24

LAST UPDATED: Jan. 17, 2021, 2:26 p.m.

New Delhi (Anish Yande): Two major IPOs are launching in the upcoming week. Indian Railway Finance Corporation and Indigo Paints are set to launch in the market with plans to raise more than Rs 5,800 crore. The IPO of IRFC is set to launch from January 18, and the Indigo Paints IPO is set to launch from January 20. 

IRFC IPO:

The IPO of Indian Railway Finance Corporation would constitute of 178.20 crore shares. The IPO would constitute a fresh issue of 118.80 crore shares and an offer-for-sale of up to 59.40 crore shares. 

IRFC is the financing branch of the Indian Railways, which undertakes market borrowing from funds. The company conducts the acquisition of railway infrastructure and rolling stock assets. 

Indian Railway Finance Corporation is looking to raise fundings for up to Rs 4,633 crores through the offer for sale method. IRFC IPO would be open for the public from January 18th to January 20th. The IPO issue comes with a price band from Rs 25 to Rs 26 per equity share. 

Anchor investors of IRFC has managed to raise Rs 1,389 crore. On Friday, Indian Railway Finance Corporation has declared that equity shares of up to 53.45 crore were allocated to the anchor investors.  The share price has been fixed at Rs 26 per share for anchor investors. 

Indigo Paints IPO:

Indigo Paints IPO would be launching its IPO from January 20, which would conclude on January 22. The IPO would be launching through the offer-for-sale method of up to 58,40,000 equity shares, aggregating to Rs 300 crore.

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The price band for the Indigo Paints IPO issue has been set at a price range of Rs 1,488-1,490 per share. The IPO is backed by private equity firm Sequoia Capital and promoter Hemant Jalan. Indigo Paints has reserved 70,000 equity shares for employees with a discount of Rs 148 per equity share. 

Funds raised from the IPO would be utilized for the expansion of its facility in Tamil Nadu, along with the purchase of gyro shakers and tinting machines. 

Image Credit: Google



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