The IRFC (Indian Railway Finance Corporation) is all set to launch its initial public offering (IPO) in the market for subscription on Monday, January 18. The IPO will close in two days on Wednesday, January 20, while also becoming the very first IPO of 2021. The IRFC is looking to raise Rs 4,634 crore from the public offering.
As detailed by the red herring prospectus (RHP), the issue will be made up of up to 1,782,069,000 shares, where there will be a fresh issue of 1,188,046,000 shares, and 594,023,000 shares will comprise of offer-for-sale. The Securities and Exchange Board of India (SEBI) approved IRFC's plan for public issue on February 25, last year.
The IRFC face value has been set at Rs 10 per share. The price band per share has been set between Rs. 25 to Rs. 26, whereas, the IRFC IPO lot size is 575 shares.
If you are looking to buy IRFC IPO, you can directly apply through Zerodha by submitting an online application and use UPI (Unified Payment Interface) as the payment gateway. Here are the simple steps you need to follow:
Step 1: Go to the Zerodha website by clicking on this link.
Step 2: Enter your User ID and Password to log in to Console (If you don't already have an account, you can click on the sign-up button below and follow the steps).
Step 3: Select the 'Portfolio' option and click on the IPO link from the drop-down.
Step 4: Navigate to IRFC IPO and select the 'Bid' option.
Step 5: Here, you will be asked to provide your UPI ID, and enter the Quantity and Price.
Step 6: Enter the details and click on the ‘Submit’ button to submit the IPO application form.
Step 7: Now, you need to visit the UPI app for approval of the mandate. A mandate request will be sent to your UPI app (BHIM or net banking) after a couple of hours.
Users can also go to the Zerodha IPO Application Process Review page to learn more about the process.
Image credits: Adhirej J R Nair | Unsplash