2020 me jo IPO ki barsaat hui thi, jisme Route MObile, Burger King, Happiest Minds, Rossary Biotech, Gland Pharma, Angel Broking, jaise kayi saare companies ne apne company ko Public kiya tha aur public ne bhi, Pandemic ke chalte khoob subscribe kiya in IPOs ko. Bhar bhar ke paisa kamaya unhone, jinko top ke 5 -6 IPOs me shares alottment mila. Route Mobile ne 217%, Burger king ne 125%, Happiest Minds ne 93% listing gain diya apne shareholders ko. 2021 me bhi IPO ki barsaat shuru hone waali hai aur pehla naam isme hai IRFC yaani Indian Railways Finance Corporation ka. IRFC ke saath Happiest Minds, Burger king aur Route Mobile IPO ka kaisa similarity hai? Kyun achanak Indian Government IRFC ko public kar rahi hai? Kya iske peeche koi risk hai jo aapko abhi samajh me nahi aa raha hai magar baad me jaake pareshaani ka reason ban sakta hai? In sab sawalon ka jawab main dunga aaj ke post me, lekin uske liye post ko end tak dekhiye, Blog ko subscribe kijiye.
Kya hai IRFC?
Indian Railways Finance Corporation ek Government owned NBFC haiyaani Non Banking Financial Institution hai. Iska kya matlab hua? Seedhe shabdo me kaha jaye to IRFC Indian Railways ke liye money and asset raise karne ka kaam karti hai. Yaani Ministry of railways ko agar Railways me kuch infrastructure, ya fir coaches, ya fir workshop, aisa kuch banana hai, yato kuch existing project me funds daalne hai, to is kaam ke liye IRFC hai. Ab is IRFC ke saath Happiest MInds ya Route Mobile ya Burger KIng IPO ka sabse bada similarity ye hai ki ye sab apne apne domain me first time IPO leke aa rahe hain. Jaise Happiest Minds apne domain ka pehla tha, waise hi IRFC bhi pehla Government owned NBFC hai jo IPO laa raha hai, isliye logo me excitement zyada hoga, isliye subscription bhi zyada hone ke chances hai. Aur public sentiment share market me ek bada role play karta hai, isliye shayad Listing gain bhi ho sakta hai. Yehi sabse badi similarity hai 2020 ke successful IPOs aur IRFC ke beech me. Ab detail me baat karte hai IRFC IPO ke baare me
IRFC IPO Details
IRFC IPO – Issue Details
IRFC IPO Date Jan 18 to Jan 20, 2021
Face Value Rs 10 per share
IPO Price band Rs 25 to Rs 26 per share
Issue Size Total of Rs 4,633.38 Crores (approx)
Fresh issue – Rs 3,089 Crores
OFS – Rs 1,544 Crores
IPO Lot Size 575 shares
Lead Managers IDFC Securities, HSBC Securities, ICICI Securities and SBI Capital Markets
Listing at BSE and NSE
IPO Objective
Ye bahut important segment hai, jo long term ke liye soch rahe hai wo is section ko dhyan se dekhiye.
Offer For Sale (OFS): 59.4 Crore Shares ka offer for sale ke through diya jayega. Is issue me jitna paisa raise hoga, wo poora shareholders yaani Government of India ke paas jayega. Company ko kuch nahi milega isse.
Fresh Issue: 178.2 Crore ka fressh issue ke through jo paisa raise hoga, wo company ke business growth me lagaya jayega, capital requirements ko meet karne ke liye. Ye paisa bhi exactly kaise IRFC ke liye use kiya jayega ye clear karne ke liye aapko IRFC ka future roadmap jaan na padega.
IPO Strengths
Agar India ke railways me growth laana hai, to Government ko IRFC ke upar hi bharosa karna padega. Ye bahut bada strength hai company ka. Kyun ki India ki government dependant hai IRFC ke performance ke upar. IRFC ka money borrow model bhi accha hai aur industry rates ke saath match karta hai. IRFC ka asset Liability management kaafi accha hai. Good credit rating i.e. CRISIL AAA/A1+ and ICRA AAA/A1+. IRFC ka financial performance lagataar accha raha hai aur ye ek cost plus model ko follow karta hai. IRFC ka management bhi kaafi strong hai. To sab positives hai fir kis baat ki chinta, subscribe to karna banta hai. Lekin subscribe karne se pehle, jo log long term ka soch rahe hain, unke liye kuch important points.
IPO Weakness
Indian Government ka 2021 ka 2.1 Trillion ka disinvestment ka target hai. Is IPOke zariye IRFC ka 14% shares becha jaa raha hai aur lagbhag 4600 Crore raise kiya jaa raha hai. Lekin agar isi tarah Govt ne railways ki privatization ko aur fast track kiya, jaise South India me kuch kuch Rail Routes already private players ko diya gaya hai. Agar aise hi Indian railways ne fund raise karne ke alternate routes nikal liye, to IRFC ke demand aur business pe bahut impact ho sakta hai. Aur fir jaise doosre PSU banks ko merge kiya jaa raha hai, waise hi IRFC ko merge karne ki bhi baat aa sakti hai, koi private NBFC ke saath. Filhaal IRFC ka profit margin accha raha hai. IRFC ka upper price band 26 hai aur FY 20 me EPS 3.6X and P/E ratio 7.2X hai. Filhaal IRFC ka koi peer market me nahi hai, isiliye direct comparison nahi ho sakta. Lekin 26 ke price band me 7.2x P/E ratio ke accha marker hai aisa kaha jaa sakta hai. Subscribe karne me koi dikkat nahi hai. Long term ke liye plan karne waale investors do baar soch le ki unka strategy kya sahi hoga. Kyun ki IRFC ko business grow karna hai aisa unke financial planner me kaha gaya hai. Doosri taraf railways ka privatization zor shor se chalu hai. India me kaafi saare fast railway corridors ban bhi rahe hain. Magar in sab me bhi foreign investment, bahar se coaches aa rahe hain. Aur yahi ek tension hai long term ka, ki kahi IRFC apna relevance kho nade, private players ke haathon na chali jaye. Agar listing gain ka dekhna hai to fir filhaal IRFC ek accha bet dikhai de raha hai. Lekin uske baad jab profit booking hogi, to fir koi bada project, koi bada manufacturing unit hi IRFC ko fir se upar laa payega. Kya aisa kuch lined up hai? Kya hai indian govt. Ke man me? Agar aapko kuch lag raha hai ya kuch suggest karna hai to comment section me jaake fatafat likhiye aur kahiye ki aapka kya sochna hai IRFC ke baare me.
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