New Delhi, February 24 The government will sell up to 4% stake in Indian Railway Finance Corporation (IRFC) through a sale offer at a floor price of Rs 104 per share.
The sale offer will open on Wednesday for institutional investors, and on Thursday for retail investors.
The government is selling over 26.13 crore shares, or 2% stake in IRFC, with an option to sell an equal number of shares, IRFC said in a regulatory filing.
Selling over 52.26 crore shares, or 4% stake at Rs 104 per share, would fetch around Rs 5,400 crore to the government.
IRFC shares closed at Rs 109.40, down 2.19% from the previous close on BSE.