Explorer

IPO Launch: IRFC, Indigo Paints Issue To Hit Market This Week. All You Should Know

IRFC issue would be open from today and close on January 20, while the Indigo Paints would open on January 20 and conclude on January 22. Both IPOs are aiming to raise a total of ₹5,800 crore.

IPO 2021: The initial public offering markets will witness two stocks hitting the market this week including the Indian Railway Finance Corporation (IRFC) and Indigo Paints. Both issues are aiming to raise a total of ₹5,800 crore. Here are details on both the issues which you can apply in the market.

What are the issue dates?

IRFC

IRFC issue would be open for public subscription from January 18 to January 20. The issue will witness sale of up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore and offer-for-sale of up to 59.40 crore shares by the government, as per the business daily Mint.

The shares will be issued at a price band of ₹25 to ₹26. The lot size is 575. At the upper end of the price band, the IPO is expected to fetch ₹4,600 crore. It is expected that the shareholding of government in IRFC will fall to 86.4% as compared to 100% earlier, as per the report.

Ahead of the IPO, IRFC raised ₹1,390 crore from anchor investors. IRFC, set up in 1986, is a dedicated financing arm of the Indian Railways for mobilizing funds from domestic as well as overseas markets.

Indigo Paints

Pune-based Indigo Paints would open on January 20 and conclude on January 22.  The IPO of Sequoia Capital-backed Indigo Paints comprises fresh issuance of stocks aggregating to ₹300 crore and an offer-for-sale of up to 58,40,000 equity shares by private equity firm Sequoia Capital and promoter Hemant Jalan. The price band for the issue has been fixed at ₹1,488-1,490 a share for its initial share-sale. The public issue would get ₹1,170.16 crore at the upper end of the price band, as per Mint.

The company is into manufacturing of a range of decorative paints, and Mahendra Singh Dhoni is its brand ambassador. As of September 30, 2020, the company has three manufacturing facilities located in Rajasthan, Kerala and Tamil Nadu. The money raised will be targetted towards expansion of the existing manufacturing facility at Pudukkottai in Tamil Nadu, for purchasing of tinting machines and gyro shakers and repayment/prepayment of borrowings.

The IPOs that come up recently were able to garner stellar response from investors, and also benefit from the stock market rally.

 

 

 

 

 

View More
Advertisement
Advertisement
25°C
New Delhi
Rain: 100mm
Humidity: 97%
Wind: WNW 47km/h
See Today's Weather
powered by
Accu Weather
Advertisement

Top Headlines

Delhi AQI In 'Severe' Category First Time This Winter Rings Alarm Bells In National Capital
Delhi AQI In 'Severe' Category First Time This Winter Rings Alarm Bells In National Capital
Moment When Chennai Man Was Caught Walking Out Of Hospital After Stabbing Doctor: VIDEO
Moment When Chennai Man Was Caught Walking Out Of Hospital After Stabbing Doctor: VIDEO
Trump Meets Biden At White House After Winning US Presidential Polls, Both Vow 'Smooth Transition' Of Power
Trump Meets Biden At White House After Winning US Presidential Polls, Both Vow 'Smooth Transition' Of Power
Siddaramaiah Claims BJP Offered Rs 50 Crore To 50 Congress MLAs In Karnataka, Says 'None Of Them Agreed'
Siddaramaiah Claims BJP Offered Rs 50 Crore To 50 Congress MLAs In Karnataka, Says 'None Of Them Agreed'
Advertisement
ABP Premium

Videos

Nirmala Sitharaman Announces Game-Changing Collateral-Free Loan Scheme for MSMEsSIP Emerges as a Safe Investment Amidst Market Fluctuations | Paisa LiveTop Banks Offering 8.75% Interest for Senior Citizens: Here’s What You Need to Know!RBI Set to Make a Big Decision on Your EMI: What You Need to Know!

Photo Gallery

Embed widget