Government To Divest Up To 4% Stake In IRFC Via OFS, Aiming To Raise ₹5,430 Crore
· Free Press Journal
New Delhi: The government will divest up to 4 per cent stake in state-owned Indian Railway Finance Corporation Ltd (IRFC) through an Offer for Sale (OFS) commencing on Wednesday. The government has fixed the floor price of Rs 104.00 per equity share for the OFS, IRFC said in a regulatory filing. At Rs 104 per unit, the government would be able to garner about Rs 5,430 crore by offloading up to 4 per cent stake in the company under the Ministry of Railways.
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Indian Railways Announces 30 Holi Special Trains From LTT Mumbai To Uttar Pradesh And Bihar Routes To Ease Festival Rush; Check Details"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. Shares of IRFC closed at Rs 109.40 per unit, down 2.19 per cent on the BSE.
The government proposes to sell up to 26.13 crore (26,13,70,120) shares or 2 per cent base offer size with an option to additionally sell 26.13 crore shares, representing another 2 per cent of the total issued and paid up equity share capital of the company, it said. The government currently holds an 86.36 per cent stake in the company. Post the share sale, the government's stake will reduce to 82.36 per cent.
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