Govt considering part-sale of IRFC stake through offer-for-sale route
Indian Railway Finance Corp (IRFC) through the offer-for-sale (OFS) route this fiscal year, an official said on Wednesday. An inter-ministerial group, which includes officers from the Department of Investment and Public Asset Management (DIPAM) and the railways ministry, has started deliberations on the quantum of stake dilution in the financing arm of the railways through the OFS, he added.
If the government decides to bring down its stake in IRFC to 75% through this OFS to comply with Sebi's public shareholding norms, it could rake in about ₹7,600 crore, based on the company's share price on Wednesday. Shares of IRFC inched up 0.57% on Wednesday to ₹51.19 apiece, against a 0.21% rise in the Sensex.
The shares have jumped almost 58% in the past one month. Recently, the government sold a 5.36% stake in another state-run railway company, Rail Vikas Nigam Ltd (RVNL), through an OFS that fetched ₹1,366 crore.
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