The Government of India has decided not to use the oversubscription option in the Offer for Sale (OFS) brought to sell stake in Indian Railway Finance Corporation (IRFC). Along with this, stake sale has been limited to 2 percent of the base offer size. The government’s initial plan was to sell 2 per cent equity stake in IRFC, including a greenshoe option of an additional 2 per cent. If this option was exercised, the total stake sale could reach 4 per cent.
IRFC OFS: Government did not adopt greenshoe option, will sell only 2 percent stake – big fall seen in shares – Market
