 "5 million equity shares have been reserved for the firm's employees.")
The three-day initial public offer (IPO) of Indian Railway Finance Corporation (IRFC) will open today, and will culminate on Wednesday, January 20. With an aim to raise approximately Rs 4,633.4 crore, at the upper end of the price band of Rs 25-26 apiece, the state-owned entity wishes to deploy the funds towards augmenting the company’s equity capital base to meet business future growth requirements; and towards meeting general corporate purposes.
According to the offer, the government (which currently holds 100 per cent stake) will execute an offer for sale (OFS) for approximately 594 million shares worth Rs 1,480
