The Rs 4,633-crore Indian Railway Finance Corporation (IRFC), which was subscribed 3.49 times during the IPO process, is expected to finalise the basis of share allotment on January 25, 2021. The grey market premium of IRFC shares has fallen to Rs 0.60-0.65 today from Re 1 earlier this week. It was the first initial public offer in the calendar year 2021 and the first public issue by a railway non-banking financial company (NBFC). IRFC shares are likely to be listed on stock exchanges, BSE and NSE, on January 29. AR Ramachandran, Co-founder & Trainer, Tips2Trade, told Financial Express Online, due to steady fundamentals and strong demand from retail and QIB investors, IRFC could open positively on listing day. However, investors are advised to book profits on listing gains and wait for dips to again accumulate as the overall market could be very volatile due to the results season and the much-awaited Union Budget 2021.
During the three-day IPO process, the portion reserved for qualified institutional buyers (QIBs) saw a subscription of 3.78 times, non-institutional investors, 2.67 times while retail investors 3.66 times. Those who had placed bids for IRFC issue can check the subscription status on the registrar’s website, i.e. from KFin Technologies Private Limited and from BSE website.
How to check IRFC share allotment status via KFintech Private Ltd website
KFin Technologies Pvt Ltd is the registrar to the issue, which is a SEBI-registered entity responsible for the IPO allotment and refund processing. The website has three links from where investors can view their allotment status. Investors can check the allotment status on KFin Technologies website under ‘IPO Status’ section (https://ris.kfintech.com/ipostatus/) when it gets declared. After that select the IPO and enter either your application number or DPID/Client ID or PAN. In case of the application number box, select application type and enter the application number. If the DPID/Client ID box is chosen, select the depository from the drop-down menu, enter DPIP, Client ID. If the PAN option box was chosen, enter the permanent account number. In the last step, enter the given captcha and click submit.
How to check status from BSE website
Alternatively, investors can also check the status of the allotment on the BSE website (https://www.bseindia.com/investors/appli_check.aspx). Investors will have to select ‘equity’, and then the issue name as ‘Indian Railway Finance Corporation’ from the drop-down list, when it gets declared. After that enter application number and PAN (permanent account number). In the last step, click on the search tab to view the status details.