India sells up to 4% stake in IRFC to meet public ownership rules and raise ₹5,430 crore.

The Indian government is selling up to a 4% stake in Indian Railway Finance Corporation (IRFC) through an Offer for Sale, starting Wednesday, with a floor price of ₹104 per share. The base offer is 2% of equity, with an additional 2% available under a green shoe option, potentially raising ₹5,430 crore. Non-retail investors can bid first, followed by retail investors on Thursday. The move aims to meet the 25% public shareholding requirement and reduce the government’s stake from 86.36% to 82.36%. IRFC, a key railway financing arm, reported record quarterly profits and strong financial performance despite a 12% stock decline over the past year.