IRFC shares fall 5% as OFS opens for non-retail investors; Check floor price and other details

Shares of the Indian Railway Finance Corporation (IRFC) Ltd. declined nearly 5% in early trade as bids for its offer for sale (OFS) open for non-retail investors on Wednesday, June 24.The Centre is looking at selling 1% stake or 13.06 crore shares in IRFC with an additional 1% stake via greenshoe option available. The floor price has been set at ₹91 per equity share, the company informed the exchanges. This is a discount of 7.5% from its previous closing price. The OFS will open for retail investors on Thursday.

At the end of the March quarter, the government held 84.65% stake in IRFC. Retail shareholders a 9.68% stake in the company, as per data available on the stock exchanges.
The Centre’s divestment drive continues and the IRFC OFS comes after the recent stake sales in Coal India, Central Bank of India, NLC India, NHPC and General Insurance Corporation of India (GIC). The Centre has exercised the greenshoe option in all all the OFS’ it has announced this year, so far, due to healthy demand.On Monday, sources told CNBC-TV18 that the Centre was also planning to launch an OFS in Cochin Shipyard.

The Centre is targeting disinvestment of 80,000 crore for the entire financial year 2027. In a post-Budget briefing, finance minister Nirmala Sitharaman had said there would be a lot more divestment moving forward. She said divestment of central public sector enterprises (CPSEs) would be considered seriously from thereon.

IRFC shares were down 4.7% at ₹94 apiece in early trade on Wednesday. The stock has declined 25.3% this year, so far, and has corrected nearly 60% from its record high level of ₹229, that it had surged to in 2024. IRFC has over 50 lakh small retail shareholders, as per the company’s latest shareholding pattern shared on the BSE.

Also Read: Bajaj Auto share buyback record date today – All you need to know