Two IPOs to kick-start in markets this week, IRFC, Indigo Paints
Two IPOs to kick-start in markets this week, IRFC, Indigo Paints
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IRFC (Indian Railway Finance Corporation)  and Sequoia Capital-backed Indigo Paints are set to hit the market with their initial share-sale offers this week to raise an estimated over Rs 5,800 crore.

The companies are expecting to benefit from an equity market, which is flush with liquidity and has seen a sharp increase in new retail investors. The three-day initial share-sale of Indian Railway Finance Corporation (IRFC) would be open for public subscription during January 18-20, while the IPO of Indigo Paints would open on January 20 and conclude on January 22.

IRFC IPO comprises 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. The price band has been fixed in the range of Rs 25- 26 per equity share and at the upper end of the price band, the IPO is expected to fetch Rs 4,633.4 crore. On Friday, the company raised Rs 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. Its primary objective is to meet the predominant portion of "extra-budgetary resources" requirement of the Indian Railways through market borrowings at the most competitive rates and terms.

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