IRFC slips 5% on debut, weighed down by 7% fall in market since firm's IPO

At current market price, IRFC has market capitalisation of Rs 32,410 crore-almost equal to its book value

State-owned Indian Railway Finance Corporation (IRFC) had a lacklustre stock market debut on Friday, with its stock slipping as much as 6.4 per cent over the issue price amid continued selling in the overall market.

Shares closed the session at Rs 24.8, down 4.6 per cent over its IPO price of Rs 26. They hit a high of Rs 25.8 and low of Rs 24.3 on the NSE, where Rs 957 crore worth of shares changed hands.

Experts said the fall in the markets weighed on IRFC’s listings. The company’s IPO closed on January 20. 

Since then, the