Govt to Sell 2% Stake in Indian Railway Finance Corporation (IRFC) at Rs 91 Per Share

New Delhi, Jun 24: The government will sell up to 2 per cent stake in Indian Railway Finance Corporation (IRFC) at a floor price of Rs 91 per share starting Wednesday.

Over 26.13 crore shares representing 2 per cent stake in IRFC will be put on offer in the two-day share sale. At the floor price, the stake sale will fetch over Rs 2,300 crore to the exchequer.

The floor price of Rs 91 per share is at a discount of 7.79 per cent over Tuesday’s closing price on BSE. In a post on X, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said the government offers to disinvest 1 per cent equity in the IRFC along with an additional 1 per cent as a green shoe option.

The OFS will open for retail investors on Thursday.

Shares of IRFC closed at Rs 98.69 on Tuesday, down 2.16 pc 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.

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

This includes Rs 5,542 crore from Coal India, Rs 4,357 crore from NHPC, Rs 3,090 crore from GIC, Rs 2,266 crore from Central Bank of India and Rs 1,223 crore from NLC India.

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