Kamal Ghorui
The government will divest up to a 4 per cent stake in state-owned Indian Railway Finance Corporation Ltd (IRFC) through an Offer for Sale (OFS) beginning Wednesday, according to a regulatory filing by the company.The floor price for the OFS has been fixed at Rs 104 per equity share, IRFC said, adding that the stake sale could help the government raise about Rs 5,430 crore if the full 4 per cent is divested, reported PTI.The offer will open first for non-retail investors, while retail investors will be able to bid the following day.“Offer for Sale for Indian Railway Finance Corporation (IRFC) opens tomorrow for Non-Retail investors. Retail investors can bid on Thursday. Government offers to disinvest 2% equity in the IRFC with an additional 2% as green shoe option,” Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said in a post on X.Under the OFS, the government proposes to sell up to 26.13 crore shares, representing a 2 per cent base offer size, with an additional 26.13 crore shares available under a green shoe option, equivalent to another 2 per cent of the company’s total issued and paid-up equity share capital.The government currently holds an 86.36 per cent stake in IRFC, which will decline to 82.36 per cent after completion of the share sale.Shares of IRFC ended at Rs 109.40 apiece on the BSE, down 2.19 per cent in the latest trading session.
