Government of India Announces OFS of Indian Railway Finance Corporation Limited (IRFC) Shares via BSE & NSE

New Delhi, February 24, 2026 :The President of India, acting through the Ministry of Railways, has announced an Offer for Sale (OFS) of up to 26,13,70,120 equity shares of Indian Railway Finance Corporation Limited (IRFC), representing 2% of its paid-up capital, with an additional 2% via an oversubscription option, totaling up to 4% of the company’s equity.

The sale will take place via the BSE Limited (BSE) and National Stock Exchange of India Limited (NSE) on:

February 25, 2026 – Non-Retail Investors (T Day)
February 26, 2026 – Retail Investors, Employees, and carried-forward non-retail bids (T+1 Day)

Eligible employees may also apply for up to 25,000 shares (~₹2 lakh per employee) as part of the Employee Offer.

Key Details of the Offer

Seller: President of India, Ministry of Railways
Company: Indian Railway Finance Corporation Limited (IRFC)
ISIN: INE053F01010
Designated Stock Exchange: NSE
Floor Price: ₹104 per share
Allocation:
- Non-Retail: Price priority, minimum 25% reserved for Mutual Funds & Insurance Companies
- Retail: 10% reserved for individual investors, allocation at Cut-Off Price
- Employees: Up to ₹2 lakh per employee; allocation proportionate in case of oversubscription

Brokers: Goldman Sachs (India) Securities Private Limited

Participation Guidelines

Non-Retail Investors: Must deposit 100% bid upfront; may carry forward un-allotted bids to T+1 day.
Retail & Employee Investors: Can bid at Floor or Cut-Off Price; settlement through normal secondary market rules.
Oversubscription Option: Seller may offer additional 2% equity based on demand.
Compliance: The OFS follows SEBI Master Circular, OFS Guidelines, and LODR Regulations.

Important Disclaimers

The OFS is not a public offer and is restricted in the U.S. (except to QIBs) and other jurisdictions.
Investors must comply with all applicable laws and confirm eligibility.
Tax consultation is recommended before participating.
Resale restrictions apply under U.S. and other securities laws.

The OFS aims to meet minimum public shareholding requirements and facilitate wider shareholding among domestic investors.