IRFC shares fall 2% as OFS worth Rs 2,212 crore opens for retail investors today. Here’s all you need to know

The government launched its OFS in IRFC for non-retail investors on Wednesday, as it planned to sell a 1% stake in the company, representing 13.06 crore shares, with an option to offload an additional 1%, or another 13.06 crore shares, through the greenshoe option. The floor price of Rs 91 per share implies a discount of nearly 2% from the stock’s previous closing price of Rs 92.5 per share on NSE.

On the first day, the government’s OFS in IRFC received strong response from institutional investors on Wednesday, with the non-retail portion getting subscribed 1.86 times. Following the robust demand, the government will exercise the greenshoe option, Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said.

In an exchange filing released on Wednesday, IRFC said that the government will exercise the oversubscription option on Thursday to sell up to 11.24 crore shares, representing less than 1% stake. This takes the total offer size to 24.31 crore shares or 1.86% stake. At the floor price of Rs 91 per share, this would be worth more than Rs 2,212 crore.

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Out of this, 2.43 crore shares will be available for retail investors, while 25,000 shares will be offered to eligible employees.

Also read: IRFC OFS subscribed over 1.5x by institutional investors; govt to exercise greenshoe option
This comes as the government has recently ramped up its disinvestment efforts. It has offloaded stakes in Coal India, NHPC, NLC India, General Insurance Corporation of India (GIC), and other PSU companies.

IRFC shareholding pattern

The central government owned nearly 85% stake in IRFC as on March 31, 2026, according to NSE data on the company’s shareholding pattern. Around 24 mutual funds owned a 0.27% stake, while Life Insurance Corporation of India (LIC) held a 2.54% stake.
Nearly 50.66 lakh shareholders, meanwhile, collectively held around 10% stake in IRFC, data showed.

IRFC share price

IRFC shares tumbled more than 6% on Wednesday after the OFS opened for non-retail investors. The stock has fallen more than 8% in one week and one month, and is down 27% in 2026 so far.

In the longer term, the shares of the company have dropped 34% in one year but delivered 185% returns over three years and 272% over five years.

IRFC Q4 snapshot

IRFC reported a net profit of Rs 1,684 crore for the quarter ended March 2026, almost unchanged from Rs 1,682 crore reported in the corresponding period of the previous financial year. Revenue for the quarter rose 9% year-on-year to Rs 7,336 crore from Rs 6,723 crore in the year-ago period.

On a sequential basis, profit after tax declined 7% from Rs 1,802 crore reported in the December quarter. Revenue, however, increased 10% quarter-on-quarter from Rs 6,661 crore recorded in the October-December quarter of FY26.

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