The initial public offering (IPO) of Indian Railway Finance Corporation (IRFC), which is part of the Centre’s FY20 disinvestment programme, will be completed by March, a senior official said. In the IPO, the Centre will piggyback the company’s proposed issuance of fresh shares to offload 5% of its equity in the company. After the IPO, the government’s holding in the company could fall to 86.4%.
The IRFC IPO, which could fetch around Rs 1,000 crore to the exchequer, is part of the government’s revised target to raise Rs 65,000 crore (down 40% from initial estimate of Rs 1.05 lakh crore) in FY20.
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