<p>The initial public offer of Indian Railway Finance Corporation was subscribed 1.22 times on the second day of subscription on Tuesday.</p>.<p>The offer received bids for 1,52,64,04,775 shares against 1,24,75,05,993 shares on offer, as per the data available with NSE.</p>.<p>The category reserved for non institutional investors was subscribed 24 per cent and retail individual investors (RIIs) 2.33 times.</p>.<p>The initial public offer (IPO) is of up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore shares and an offer for sale of up to 59.40 crore shares.</p>.<p>Price range for the offer has been fixed at Rs 25-26 per share.</p>.<p>At the upper end of the price band, the IPO is expected to fetch Rs 4,633 crore. </p>.<p>IRFC had on Friday raised a little over Rs 1,398 crore from anchor investors. </p>.<p>DAM Capital Advisors, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets are the managers to the offer.</p>.<p>RFC, set up in 1986, is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets.</p>.<p>Its primary objective is to meet the predominant portion of 'extra budgetary resources' requirement of the Indian Railways through market borrowing at the most competitive rates and terms.</p>
<p>The initial public offer of Indian Railway Finance Corporation was subscribed 1.22 times on the second day of subscription on Tuesday.</p>.<p>The offer received bids for 1,52,64,04,775 shares against 1,24,75,05,993 shares on offer, as per the data available with NSE.</p>.<p>The category reserved for non institutional investors was subscribed 24 per cent and retail individual investors (RIIs) 2.33 times.</p>.<p>The initial public offer (IPO) is of up to 178.20 crore shares, comprising a fresh issue of up to 118.80 crore shares and an offer for sale of up to 59.40 crore shares.</p>.<p>Price range for the offer has been fixed at Rs 25-26 per share.</p>.<p>At the upper end of the price band, the IPO is expected to fetch Rs 4,633 crore. </p>.<p>IRFC had on Friday raised a little over Rs 1,398 crore from anchor investors. </p>.<p>DAM Capital Advisors, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets are the managers to the offer.</p>.<p>RFC, set up in 1986, is a dedicated financing arm of the Indian Railways for mobilising funds from domestic as well as overseas markets.</p>.<p>Its primary objective is to meet the predominant portion of 'extra budgetary resources' requirement of the Indian Railways through market borrowing at the most competitive rates and terms.</p>