India's IRFC set for worst day in 16 months as govt announces stake sale at discount

Indian Railway Finance

24/06/2026 05:41

** Shares of Indian Railway Finance Corp INID.NS fall 5.7% to 93.05 rupees, set for biggest pct drop since February 2025
** Indian government announces up to 2% stake divestment via offer-for-sale (OFS) in the railway financing co
** Floor price of OFS at 91 rupees, discount of nearly 8% to stock's closing price on Tuesday
** Stake sale part of Indian govt's 800 billion rupee ($8.44 billion) divestment and asset monetization target for fiscal year 2027; govt had tried to sell up to 4% of co in February but could offload only 1.71%
** Stock top pct loser on Nifty PSE index .NIFTYPSE, which is down 0.24%
** INID down 25% YTD
     
($1 = 94.8425 Indian rupees)

 (Reporting by Abhirami G in Bengaluru)
 ((abhirami.g@thomsonreuters.com))