How to Check Your IRFC IPO Share Allotment Status

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How to Check Your IRFC IPO Share Allotment Status
Credit: © Reuters.

By Aditya Raghunath -- As per Indian Railway Finance Corp's (NS: INID ) schedule in the IPO prospectus, January 29 is the day when the stock will debut on the bourses. The mini-ratna allotted shares to its subscribers yesterday (January 27). The IPO was subscribed 3.49 times in its given period, with the retail portion getting subscribed 3.66 times.

There are a couple of ways for subscribers to check their share allotment status today.

  1. Log on to the registrar’s website:
  2. Select company: IRFC
  3. Select your PAN/Application number/DP/Client ID/Account number/IFSC
  4. Enter the CAPTCHA and click on submit.

The next steps include funds getting unblocked from the ASBA accounts and the shares being allotted to the subscribers.

Since the IPO has not been massively oversubscribed, it is likely that almost all investors will get a fourth (around 25%) of the shares they had subscribed to. IRFC has been recommended by most brokerages and analysts as a ‘buy’ for long-term investors.

IRFC is the financial arm for the Indian Railways. Its growth is inextricably linked to the growth of the railway infrastructure in India. The projected annual capital expenditure in the Railways for FY20-25 is Rs 13.7 lakh crore. IRFC financed around 48% of Railways’ capex in FY20. The Union Budget on February 1 could provide a pathway into the future for IRFC in FY22.

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