Indian Railway Finance Corporation (IRFCinitial )'s public offering (IPO) was 3.49 times subscribed over the 124.75 crore shares offered during the 18-20 January 2021 subscription period. The price band was set at a price per share of Rs 25-26. 
 

IRFC IPO received tenders over 435.32 crores (4,35,32,61,750) shares against the total issue size of 124.75 crores (1,24,75,05,993) shares, as shown by data available from the National Stock Exchange (NSE).
 

The shares to be allocated to qualified institutional buyers (QIBs) were subscribed 3.78 times, whereas those of non-institutional investors were subscribed 2.67 times and those of individual retail investors (RIIs) 3.66 times. Separately, shares were subscribed a whopping 43.76 times for the staff segment, the data showed. 
 

The primary objective of the company is to meet the predominant portion of Indian Railways' "extra-budgetary resources" requirement through market borrowing at the most competitive rates and terms.
 

Investors are now looking forward to the IRFC IPO's share allotment date. The Indian Railways' dedicated financing arm was originally expected to finalise the allotment by Monday, January 25, 2021. Nevertheless, the registrar's website now shows that on Wednesday, January 27, 2021, the shares will be allocated. If you have applied for the IRFC IPO, then here is how you can verify your allotment status when it is declared:
 

The allocation status will be updated on the IPO registrar's website, which is KFin Technologies in this case (click here: https://ris.kfintech.com/ipostatus/ipos.aspx). In the drop-down menu, applicants must select INDIAN RAILWAY FINANCE CORPORATION LIMITED and enter either their Application No. or DPID/Client ID or PAN, enter the Captcha code (displayed in digits) and then click Submit to view their allocation status.
 

Applicants can also check the status of their allocation on the BSE website in addition to the registrar's website (Click here: https://www.bseindia.com/investors/appli check.aspx). You will need to select Equity in Issue Type here, then select INDIAN RAILWAY FINANCE CORPORATION LTD from the Issue Name drop-down list, enter their Application Number and PAN Number in the appropriate boxes, and then click Search to view their status. 
 

The listing of IRFC shares is likely to take place on both the NSE and BSE on 29 January 2021. The IPO's issue size was Rs 4,633 crore. The company raised Rs 1,390 crore from its anchor investors before heading into the IPO. The managers were DAM Capital Advisors (formerly known as IDFC Securities), HSBC Securities and Capital Markets (India), ICICI Securities, and SBI Capital Markets.