Choice Broking has advised investing in IRFC’s IPO, saying this IPO is better for investment from a long-term perspective.
The Indian Railway Finance Corporation (IRFC) IPO is open today 18th January and will close on January 20.
This is the 1st IPO of the year 2021. The IPO of Indigo Paints is going to open at the end of this week. The IRFC issue’s lead manager is DAM Capital Advisors, and Capital Markets India, HSBC Securities, and SBI Capital Markets, ICICI Securities.
Around INR. 178.20 crores shares will be issued in IRFC IPO. the Government of India will issue INR. 118.80 crore fresh shares and will sell INR. 59.40 crore shares IRFC IPO offer-for-sale.
INR.25-26 per share will be the issue price of IRFC. The company is expected to raise INR 46,00 crores. After the IPO, the government’s stake in the company will come down to 86.4 percent.
What do investors do?
Choice Broking has advised investing in IRFC’s IPO. If we see from a long-term perspective this IPO is pretty much better for investment. According to media reports, Nirali Shah, senior research analyst of Samco Securities, said that IRFC Indigo paints are important IUs in 2021.
It is expected that there will be a glut of IPOs in the market even after that. Analysts believe that the returned investment in the market is getting the benefit of IPO and FPO.
This is a better sign. Investors are advised to buy these INUs and recover their profits when they get an opportunity.
INR.1,390 crores have been issued by IRFC from anchor investors. It was established in the year 1986. IRFC works to raise funds from domestic and overseas markets for Indian Railways.
Pune’s Indigo paints are the business of making paints. This Company has a large network all over the country. This company has 3 manufacturing facilities in Tamil Nadu, Rajasthan, and, Kerala.