Indian Railway Finance Corporation (IRFC) has debuted at Rs 25.00 on the BSE, down by 1.00 points or 3.85% from its issue price of Rs 26.00.
The scrip is currently trading at Rs 25.35, down by 0.65 points or 2.50% from its issue price. It has touched a high and low of Rs 25.50 and Rs 24.30 respectively. So far 170.60 lakh shares were traded on the counter.
The offering, which was open for subscription between January 18, 2021 and January 20, 2021, was subscribed 3.4 times. The issue price was fixed at Rs 26 per share i.e. at upper end of price band of Rs 25-26 apiece.
IRFC was incorporated as the dedicated market borrowing arm for the Indian Railways and has played a strategic role in financing the latter's operations.
