Indian Railway Finance Corporation (IRFC) has made a weak debut on the bourses as the stock listed at 4 percent discount to issue price. Amitabh Banerjee, CMD of IRFC shared his views and outlook for the business going forward.

“One-third of the issuance is on account of offer-for-sale (OFS) of 5 percent that is being divested by government of India. The total issue size is Rs 4,633 crore out of which the share of government of India will be almost Rs 1,533 crore. 10 percent being the fresh issuance valuing about Rs 3,100 crore will come to company’s balancesheet,” he said.

“Going forward, with the National Infrastructure Pipeline (NIP) in place of the government of India, we sincerely hope that IRFC will be definitely mandated to provide a major chunk of this capex outlay expenditure,” he said.

“Assets under management (AUM) stands at about Rs 2,78,000 crore to end of September 2020. This AUM has been growing at CAGR of more than 27 percent over the last three years and there has been a huge growth,” he added.

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(Edited by : Aditi Gautam)

First Published:Jan 29, 2021 2:53 PM IST