The shares of Indian Railway Finance Corporation (IRFC) declined 2% to Rs 90.80 on the BSE on Thursday as the government's offer for sale (OFS) to sell nearly 2% stake in the company at the floor price of Rs 91 per share opens for retail investors today.
The government launched its OFS in IRFC for non-retail investors on Wednesday, as it planned to sell a 1% stake in the company, representing 13.06 crore shares, with an option to offload an additional 1%, or another 13.06 crore shares, through the greenshoe option. The floor price of Rs 91 per share implies a discount of nearly 2% from the stock’s previous closing price of Rs 92.5 per share on NSE.
