The Department of Investment and Public Asset Management (DIPAM) confirmed the OFS will have a floor price of Rs 91 per share. The government will initially divest 1% of IRFC’s equity and has the option to sell an additional 1% via a greenshoe option if investor demand is strong.
The offer opens for non-retail investors on Wednesday, June 24, 2026, and for retail investors on Thursday, June 25, 2026. DIPAM Secretary Arunish Chawla announced the details on social media, highlighting the staggered opening for different investor categories.
A total of up to 26.13 crore shares, representing 2% of IRFC equity capital, will be offered. At the floor price, the sale is expected to generate over Rs 2,300 crore for the government.
The floor price is set around 7.8% below IRFC’s closing price of Rs 98.37 on the Bombay Stock Exchange the day before the announcement. IRFC shares closed 2.53% lower ahead of the OFS announcement.
This stake sale contributes to the government’s broader strategy to boost non-tax revenues and increase public shareholding in state enterprises. The 2026-27 Union Budget targets Rs 80,000 crore from disinvestment and asset monetisation initiatives.
Earlier in June, the government completed a 5% stake sale in General Insurance Corporation of India, which attracted strong investor demand. So far in the current fiscal year, the government has raised approximately Rs 16,480 crore through minority stake sales across various public sector enterprises, banks, and insurance companies.
The government had previously attempted a larger stake sale in IRFC in February 2026, proposing to sell up to 4% equity but succeeded in divesting only 1.71%. After that transaction, the government’s holding in IRFC stood at 84.65%.
IRFC is a Navratna public sector enterprise under the Ministry of Railways, established in 1986. It serves as the principal financing vehicle for Indian Railways, raising funds domestically and internationally to support railway infrastructure, rolling stock procurement, and network expansion.
The company is registered with the Reserve Bank of India as a systemically important non-deposit-taking non-banking financial company and infrastructure finance company.
With multiple transactions planned, the government is expected to continue leveraging capital markets to meet its FY27 disinvestment targets while encouraging wider retail participation in state-owned enterprises.
