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The Economic Times
The Economic Times
Business
Akash Podishetti

IRFC OFS subscribed over 1.5x by institutional investors; govt to exercise greenshoe option

IRFC OFS

The government's offer for sale (OFS) in Indian Railway Finance Corporation (IRFC) received a strong response from institutional investors on Wednesday, with the non-retail portion getting subscribed 1.86 times. Following the robust demand, the government will exercise the greenshoe option, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said.

The Centre had launched the OFS to sell up to 1% stake in IRFC, with an option to sell an additional 1% through the greenshoe option. The issue opened for non-retail investors on Wednesday, while retail investors will be able to bid on Thursday.

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