On First Day, IRFC’s IPO Issue Subscribed 65%

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On First Day of IPO, IRFC Issue Subscribed 65%

The first issue of Indian Railway Finance Corporation, subsidiary of Indian Railways, has been subscribed 65 per cent on January 18, the first day of bidding.

The offer received bids for 80.89 crore equity shares against an IPO size of over 124.75 crore equity shares, the bidding data available on the exchanges showed.

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The IPO size did not include the anchor book which already received a good response from investors. The company raised Rs 1,390 crore of its total issue size of Rs 4,633 crore, through the anchor book.

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