The Initial Public Offer (IPO) of Indian Railway Finance Corporation (IRFC) opened on Monday for subscription, in the price band of Rs 25-26 per share. The IPO has been subscribed 33 percent so far on day 1.

Amitabh Banerjee, Chairman and Managing Director of the company said that the anchor book was oversubscribed with more than 12 investors displaying an interest in the anchor book. Long-only investors accounted for 92 percent of the total allocation, he added.

Banerjee said that the total anchor book allocated as on January 15 was about Rs 1,390 crore which is 30 percent of the total issue size.

On the government stake sale, he said that they are disinvesting 14 percent comprising OFS of 5 percent and fresh issuance of 10 percent. Remaining 11 percent government stake will be divested in the next 3 years as per SEBI guidelines, he said.

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(Edited by : Ankit Gohel)