IRFC share price falls 5% as OFS opens for non-retail investors today. Check details here (opens original article in a new tab)

IRFC share price fell 5% on Wednesday as offer-for-sale opened for non-retail investors, with government planning to divest 1% stake through OFS.

• IRFC share price fell 5.15% to ₹93.59 on Wednesday after OFS opened for non-retail investors
• Government plans to divest 1% stake in IRFC through OFS with possible additional 1% via greenshoe option
• OFS floor price set at ₹91 per share, 7.5% discount to previous closing price
• Government holds 84.65% stake in IRFC, retail investors own 9.68%
• OFS aims to increase stock liquidity and free float
• OFS is part of government's disinvestment strategy with previous OFSs in multiple companies