Indian Railway Finance Corporation’s Initial Public Offering


Khaitan & Co acted as the Indian Legal Counsel to the President of India, acting through the Ministry of Railways, Government of India and Indian Railway Finance Corporation Limited.

Indian Railway Finance Corporation has filed draft papers with markets regulator Sebi for its initial public offering (IPO). The public issue is of up to 140,70,69,000 equity shares of which up to 93,80,46,000 equity shares are fresh issue, and up to 46,90,23,000 equity shares are offer for sale, according to the draft red herring prospectus (DRHP).

IDFC Securities, HSBC Securities and Capital Markets (India), ICICI Securities and SBI Capital Markets are the book running lead managers to the IRFC IPO. The shares of the company are proposed to be listed on the Bombay Stock Exchange and the National Stock Exchange.

The Khaitan & Co team was composed by Executive Director Sudhir Bassi (Picture), Madhur Kohli (Partner), Vaibhav Mittal (Counsel) and Devarshi Mukhopadhyay (Associate) with assistance from Sai Saket Rachakonda (Associate).

Involved fees earner: Sudhir Bassi – Khaitan & Co.; Madhur Kohli – Khaitan & Co.; Vaibhav Mittal – Khaitan & Co.; Devarshi Mukhopadhyay – Khaitan & Co.; Sai Saket Rachakonda – Khaitan & Co.;

Law Firms: Khaitan & Co.;

Clients: Indian Railway Finance Corporation Limited; Ministry of Railways, Government of India;