Asia
Indian Government Plans to Divest Up To 2% Stake in Indian Railway Finance
The Indian government is looking to divest up to 2% stake in Indian Railway Finance (NSE:IRFC, BOM:543257) through an offer for sale, which will open on Wednesday for non-retail investors, according to a Tuesday filing to the Indian stock exchanges.Retail investors will be able to place their bids on Thursday.The Centre is looking to divest a 1% stake, or 130.7 million shares in IRFC, through the offer with an additional 1%, or another 130.7 million shares, through a greenshoe option. It has fixed the floor price at 91 Indian rupees per share for the OFS.As of the end of the March quarter, the government held an 84.65% stake in the railway finance company.
BOM:543257NSE:IRFC
