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

The Indian government plans to divest up to 4% stake in Indian Railway Finance Corporation (IRFC) through an Offer for Sale (OFS), starting February 25 for non-retail investors and February 26 for retail investors. The initial 2% stake sale includes a green shoe option for an additional 2%, with a floor price set at Rs 104 per share, about 5% below the previous closing price. IRFC, a Navratna PSU under the Ministry of Railways, recently reported its highest quarterly profit, despite its stock underperforming the market over the past year.