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Indian Railway Finance Corporation made a discounted debut

The Indian Railway Finance Corporation share made a discount over its IPO price on BSE as per January 29.

The shares opened at the price of Rs 25 on the stock exchange. Earlier the IRFC issued its IPO at Rs 26 per share which is now opened at a discounted price.

Stock got listed with a 3 percent discount on the NSE index at Rs 24.90. Further, the listing price was on the expected lines as per the fragile equity condition in the market.

The GMP was also falling down along with lower subscriptions.

Coming to the Sensex, it has fallen down by more than 6 percent in the last five day in a continuous manner. However, the Nifty50 also joined the rally falling down by 6 percent similar to Sensex.

IRFC has raised Rs 4,633 crore through its IPO which got a total 3.49 times of subscription during January 18 – January 20.

Indian Railway Finance Corporation was the first IPO of the new fiscal year 2021 along with others.

The company has reported Rs 3,192 crores of profit along with a revenue of Rs 13,421 crore.

The profit has increased by 26 percent CAGR, as per the company reports. Also, the revenue growth was at a 21 percent of CAGR.

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