Shares of Indian Railway Finance Corporation (IRFC) fell during the trading hours on Wednesday, June 24 after the government's plan to divest its stake in the PSU via Offer for Sale (OFS).
IRFC share price slipped as much as 5.83% to Rs 92.92 apiece. The scrip was trading 5.56% lower by 10:05 am, while the benchmark Nifty 50 was up 0.26%.
IRFC OFS will open on Wednesday for non-retail investors, while retail investors will be able to place their bids on Thursday.
The governemnt plans to divest a 1% equity stake in the state-owned railway financing company through the OFS. The government has also included a green shoe option to sell an additional 1% stake, taking the total offer size to up to 2% of the company's equity if there is strong investor demand.
The floor price for the offer has been fixed at Rs 91 per share. Through the OFS the governemnt will offload 26.1 crore share with the base offer including 13.1 crore shares.
In February, the government had opened an OFS for 2% share sale but failed to get full subscription from institutional investors. Institutional investors placed bids for over 22.34 crore IRFC shares, which is 94.98 per cent of the over 23.52 crore shares reserved for them in the offer for sale (OFS).
IRFC Q4 Result Highlights
IRFC's net profit rose 0.1% to Rs 1,684 crore in the fourth quarter of FY26 from Rs 1,682 crore in the corresponding period previous year. Total income jumped 9% to Rs 7,329 crore from Rs 6,724 crore on an year on year basis.
In FY26, IRFC sanctioned projects worth Rs 72,949 crore and disbursed nearly Rs 35,067 crore. The PSU secured bids worth around Rs 56,251 crore, while key transactions, IRFC refinanced Dedicated Freight Corridor Corporation of India Limited's (DFCCIL) World Bank exposure through a Rs 9,821 crore long-term rupee facility, resulting in savings of approximately Rs 2,700 crore, the company said.
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