Govt to sell up to 4 pc stake in IRFC at Rs 104 per share; to mop up over Rs 5,000 cr

New Delhi, Feb 24 (PTI) The government will sell up to 4 per cent stake in Indian Railway Finance Corporation (IRFC) through an offer for sale at a floor price of Rs 104 apiece.

The OFS will open on Wednesday for institutional investors, and on Thursday for retail investors.

The government is selling over 26.13 crore shares or a 2 per cent stake in IRFC with a green shoe option of an equal number, IRFC said in a regulatory filing.

Sale of over 52.26 crore shares or 4 per cent stake at Rs 104 a share would fetch around Rs 5,400 crore to the exchequer.

Shares of IRFC closed at Rs 109.40, down 2.19 per cent over the previous close on BSE. PTI JD HVA