Govt to sell up to 2% in IRFC via OFS

New Delhi: The Government will sell up to 2 percent stake in Indian Railway Finance Corporation (IRFC) through an offer for sale starting Wednesday.

In a post on X, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said the government offers to disinvest 1 percent equity in the IRFC along with an additional 1 percent as a green shoe option.

Follow The PSUWatch Channel on WhatsApp

The government has not yet disclosed the floor price for the OFS.

Shares of IRFC closed at Rs 98.69, down 2.16 percent over the previous close on BSE.

"Offer for Sale for Indian Railway Finance Corporation (IRFC) opens tomorrow for Non Retail investors. Retail investors can bid on Thursday," the X post said.

Follow PSU Watch on LinkedIN

In the current fiscal, the government has sold minority stakes in five central public sector enterprises and banks, taking the total disinvestment proceeds to Rs 16,480 crore so far.

(PSU Watch is India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy. 👉 Click to join our channel now: PSUWatch WhatsApp Channel. Prefer LinkedIn? Follow PSU Watch on LinkedIN. Click to stay connected on Twitter here and stay updated)