Government Launches Offer for Sale to Divest Up to 4% Stake in IRFC at Rs 104 Floor Price

The Indian government has launched an Offer for Sale (OFS) to divest up to 4% stake in Indian Railway Finance Corporation (IRFC), starting February 25 for non-retail investors and February 26 for retail investors. The base offer is 2%, with an additional 2% under a green shoe option. The floor price is set at Rs 104 per share, about 5% below recent closing prices, aiming to raise approximately Rs 5,430 crore. IRFC, a Navratna PSU under the Ministry of Railways, recently reported its highest-ever quarterly profit. The government's stake will reduce from 86.36% to 82.36% post-sale. The share price has declined over 4% to a 52-week low amid the divestment announcement.