 "IPO, shares, company, firms, market")
State-owned Indian Railway Finance Corporation (IRFC) garnered 3.5 times subscription, helping the Centre mop up Rs 1,500 crore. The retail and institutional portion of the issue was subscribed around 3.7 times each, while the high net-worth individual portion garnered 2.7 times subscription.
Market players said the response was lukewarm when compared to some of the recent issues. They said the large issue size and unattractive grey market premium led to the tepid response. The overall issue size was Rs 4,500 crore—two-thirds of it being fresh fund raise. The employee portion of the IPO was subscribed 44 times. At
