Indian Railway Finance Corp to be listed in March

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.