IRFC tax-free bonds subscribed four times on day one

Indian Railways Finance Corporation's ( IRFC) tax-free bonds were oversold, almost four times higher than planned. With this, the issuer marked the season's end although the issue would remain open for subscription till Monday next as the retail portion is not fully subscribed.

The company on Thursday received bids for Rs 9,452 crore against Rs 2,450 crore, the total issue size. However, the retail portion, which was 60% of the size, was not fully subscribed, and limited to 0.72 times  ..

Click here to read more>>