$IRFC

The government on Thursday announced that it has raised approximately Rs 2,100 crore through the sale of its stake in the state-owned Indian Railway Finance Corporation (IRFC) via an Offer for Sale (OFS). According to the Department of Investment and Public Asset Management (DIPAM), the OFS received a strong response from retail investors. Over the two-day offering, a total of 22.88 crore shares were sold to institutional and retail investors, generating around Rs 2,084 crore. "We thank all investors for their participation and for reposing their faith in us," the department said. The government also exercised the greenshoe option, enabling an additional 2% stake dilution in the Railway Ministry's public sector undertaking. The floor price for the OFS was fixed at Rs 91 per share, representing a 7.8% discount to IRFC's closing price on the BSE on Tuesday. With the IRFC stake sale, the government's total disinvestment proceeds in the current financial year have reached Rs 16,480 crore. Earlier disinvestment transactions included 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.