Indian Railways’ Units Plan Rs 1,500 Crore IPOs

Indian Railways’ Units Plan Rs 1,500 Crore IPOs

Two rail CPSEs – IRFC and IRCON- are likely to come out with their initial public offerings in the next two months, which could together fetch about Rs 1,500 crore to the exchequer, official sources said.

While the Indian Railway Construction Co. has already approached the Securities Exchange Board of India with its IPO papers, the Indian Railways Finance Corporation would soon file the draft prospectus with the market regulator to seek its nod for initial share sale and subsequent listing.

The government plans to launch the IPO of these two central public sector enterprises after the resounding success of the RITES IPO, which was subscribed 67 times last month. The scrip listed on the bourses at a three percent premium. Read More

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