Institutional Buyers Over-Subscribe Shares Reserved in IRFC OFS

1. Tryfacta won NASA SEWP contracts under Category B and Category C.

2. The contracts have a 10-year ordering period from November 2026 to October 2036.

3. The company recently filed for a $100-150 million IPO at GIFT City.

Institutional investors on Wednesday over-subscribed the government's offer for sale (OFS) of Indian Railway Finance Corporation (IRFC).

Non-retail investors put in bids for over 18.74 crore IRFC shares, or 1.59 times of over 11.76 crore shares reserved for them. Indicative price for the bids is ₹91.07 a share, stock exchange data showed.

The government is selling up to 2% stake or 26.13 crore shares in IRFC at a floor price of ₹91/share. The OFS includes a greenshoe option of 1% stake.

The government will decide on exercising the greenshoe option later on Wednesday.

Retail investors will get to bid in the share sale offer on Thursday.

The floor price of ₹91/share was set at a discount of 7.8% over Tuesday's closing price of IRFC shares on the BSE.

Shares of IRFC were trading 5.47% lower at ₹93.29 on the BSE on Wednesday.

In the current fiscal year, the government has sold minority stakes in five central public sector enterprises and banks and insurance companies, taking the total disinvestment proceeds to ₹16,480 crore so far.

This includes ₹5,542 crore from Coal India, ₹4,357 crore from NHPC, ₹3,090 crore from GIC, ₹2,266 crore from Central Bank of India and ₹1,223 crore from NLC India.