IRFC OFS draws tepid retail participation
Retail investors largely ignored the government's offer for sale in IRFC, with only a fraction of the reserved shares being bid for on the final day. Institutional investors had previously subscribed to nearly 95% of their allocated shares. Due to...
By ET Bureau |
ETMarkets.com
Following market hours on Wednesday, the government chose not to invoke the green-shoe option in the OFS, citing the undersubscription.
Mumbai: Retail investors mostly gave the government's offer for sale (OFS) in Indian Railway Finance Corporation Ltd (IRFC) a miss on Thursday, the last day of the two-day issue. Against 3.79 crore shares reserved for retail investors, bids were received for around 5.9 lakh shares.
On Wednesday, institutional investors had placed bids for 22.34 crore shares, translating to a subscription of 94.98% of the shares in the category, as per exchange data. Following market hours on Wednesday, the government chose not to invoke the green-shoe option in the OFS, citing the undersubscription.
On Wednesday, institutional investors had placed bids for 22.34 crore shares, translating to a subscription of 94.98% of the shares in the category, as per exchange data. Following market hours on Wednesday, the government chose not to invoke the green-shoe option in the OFS, citing the undersubscription.
Too busy to trade in stocks? Invest in Mutual Funds with ET Money!
Bookmark or read stories offline -
Download ET Markets APP
Download ET Markets APP
Related Articles
IRFC OFS open for retail investors today. Should you wait or subscribe?ADVERTISEMENT
