IRFC sets $634m IPO rolling

By Jonathan Breen
13 Jan 2021

Indian Railway Finance Corp (IRFC) will hit the market next week with the country’s first IPO of the year. It is on track to raise up to Rp46.33bn ($633.7m).

The state-owned non-banking finance company (NBFC) is floating a mix of new and existing stock. It is issuing around 1.18bn new shares for the IPO, while the government will sell 594.02m of its shares through an offer-for-sale.

The secretary of India’s Department of Investment and Public Asset Management ...

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