The government on Tuesday announced an offer for sale (OFS) to divest up to a 4% stake in state-owned Indian Railway Finance Corporation (IRFC). Under the offer, the Centre will initially sell a 2% stake, with an additional 2% green shoe option.
The OFS opens for non-retail investors on Wednesday, with retail bidding on Thursday.
“Offer for Sale for Indian Railway Finance Corporation (IRFC) opens tomorrow for non-retail investors,” the Department of Investment and Public Asset Management (DIPAM) said in a post on X. “Retail investors can bid on Thursday. Government offers to disinvest 2% equity in the IRFC with an additional 2% as green shoe option.”
The base offer size comprises up to 261.4 million equity shares, representing 2% of the total paid-up equity share capital. The oversubscription option allows the sale of an additional 26.14 equity shares, taking the total potential divestment to 4%.
The floor price has been fixed at ₹104 per equity share, a 4.95% discount to Tuesday’s closing price. IRFC shares closed at ₹109.40 apiece, down 2.19% from the previous close.
Source: Economic Times