IRFC set for divestment via OFS
The government is planning to sell a part of its holding in state-owned Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the current fiscal, an official said on Wednesday.
image for illustrative purpose
New Delhi: The government is planning to sell a part of its holding in state-owned Indian Railway Finance Corp (IRFC) through an offer for sale (OFS) in the current fiscal, an official said on Wednesday.
The government currently holds an 86.36 per cent stake in the financing arm of the Indian Railways. The official said that an inter-ministerial group (IMG) comprising senior officers from the Department of Investment and Public Asset Management (DIPAM) and the Railways Ministry has started consultations to decide on the quantum of stake dilution. To make the central public-sector enterprise compliant to Sebi’s minimum public shareholding (MPS) norm, the government has to dilute 11.36 per cent stake in IRFC.
As per MPS norm, a listed entity must have a minimum public float of 25 per cent within five years of listing.
