Indian government sells minority IRFC stake raising ₹2,084 cr
Business
The Indian government just sold a minority stake in Indian Railway Finance Corporation (IRFC), raising ₹2,084 crore.
The two-day Offer for Sale saw strong interest from both retail and big investors, with 22.88 crore shares snapped up.
IRFC sale used 2% green shoe
This sale included a 2% stake through the green shoe option, with shares priced at ₹91 each, about an 8% discount compared to earlier prices.
It is the sixth such move this year, bringing the total from the five prior disinvestment moves to ₹16,480 crore, and adding the IRFC proceeds brings the combined total to approximately ₹18,564 crore, as part of the government's ongoing plan to monetize public sector holdings.