38.6c New Delhi, India, Wednesday, April 17, 2024
Business

SEBI Gives Indian Railway Finance Corporation Nod For IPO

By LawStreet News Network      04 March, 2020 08:03 PM      0 Comments
SEBI Gives Indian Railway Finance Corporation

The Indian Railway Finance Corporation (IRFC) has got Securities and Exchange Board of India's(SEBI) approval for its Initial Public Offer (IPO). The IPO comprises fresh issue of 93.8 crores equity shares and an offer for sale of 46.9 crore equity shares by the Government of India.

The inquiry letter was published on 25 February 2020, according to an update on SEBI’s website. SEBI inspections are essential for any company to start public subjects such as IPO, follow-on with the public offer and rights issue. 

The net gains are proposed to be appropriated towards expanding the company's investment assets base to fit expected capital necessities arising out of growth in business and general corporate purposes as per the Draft Red Herring Prospectus (DRHP). 

The offer is being managed by IDFC Securities, HSBC Securities and Capital Markets along with ICICI Securities and SBI Capital Markets. The equity shares of the company have been proposed to be listed on BSE and NSE. 

As per the information available in the DRHP, the firm is the dedicated market borrowing arm of Indian Railways, and its primary business is financing the acquisition of rolling stock assets. 

 

Author: Asif Iqbal



Share this article:

User Avatar
About:


Leave a feedback about this
TRENDING NEWS

baba-ramdev-acharya-balkrishna-offer-to-make-public-apology-in-sc-for-misleading-advertisements
Trending Judiciary
Baba Ramdev, Acharya Balkrishna offer to make public apology in SC for misleading advertisements

Baba Ramdev and Acharya Balkrishna offer public apology in SC for misleading ads, court deliberates acceptance.

16 April, 2024 01:57 PM
hymen-tear-or-genital-injuries-are-not-a-sine-qua-non-to-prove-penetrative-sexual-assault-in-pocso-case-rules-guwahati-hc
Trending Judiciary
Non-tear of the hymen is of no consequence in cases of penetrative sexual assault: Guwahati HC in POCSO case [Read Judgment]

Hymen tear or genital injuries are not a sine qua non to prove penetrative sexual assault, the Guwahati High Court has held in a case under the POCSO Act, 2012.

16 April, 2024 05:06 PM

TOP STORIES

sc-sets-aside-judgment-upholding-arbitral-award-against-dmrc
Trending Business
SC sets aside judgment upholding arbitral award against DMRC [Read Judgment]

Supreme Court overturns arbitral award favoring Reliance Infrastructure subsidiary against DMRC, citing grave miscarriage of justice.

11 April, 2024 11:43 AM
delhi-hc-rejects-third-plea-for-arvind-kejriwals-removal-as-delhi-cm-blasts-petitioner-for-abuse-of-judicial-process
Trending Political NEWS
Delhi HC rejects third plea for Arvind Kejriwal's removal as Delhi CM, blasts petitioner for abuse of judicial process [Read Judgment]

Delhi High Court dismisses the third PIL plea before it seeking Aam Aadmi Party leader Arvind Kejriwal’s removal as Chief Minister of Delhi, imposes Rs. 50,000 cost on petitioner.

11 April, 2024 03:29 PM
use-of-social-media-to-interfere-with-administration-of-justice-needs-serious-consideration-sc
Trending Judiciary
Use of social media to interfere with administration of justice needs serious consideration: SC [Read Judgment]

Supreme Court warns against social media misuse in legal matters, cautions against prejudicial posts interfering with justice.

11 April, 2024 05:44 PM
two-day-conference-on-april-on-technology-and-dialogue-between-sc-and-singapore
Trending Legal Insiders
Two-day conference on April 13-14 on Technology and Dialogue between SC and Singapore

Explore AI's role in law at the India-Singapore Supreme Court conference on technology, enhancing judicial processes and access to justice, April 13-14, 2024.

12 April, 2024 06:16 PM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email