The Centre is reportedly exploring a stake sale in Indian Railway Finance Corporation (IRFC), Reuters said on Wednesday. IRFC is a dedicated funding arm of Indian Railways, which borrows funds from financial markets to finance the acquisition/creation of rolling stock/project assets. These assests are then leased out to the Indian Railways as a finance lease.
Since the market opening, shares of IRFC hit a new high of Rs 52.71, gaining nearly 4 per cent on the BSE. Till 11.20 AM, a combined 121 million equity shares, which is about 0.93 per cent of total equity of IRFC, had changed hands on the NSE and BSE.
In the last one month, shares of IRFC have delivered 44 per cent returns to shareholders.
At 12.50 PM, shares of IRFC were trading at Rs 51.33 apiece, up by 0.84 per cent.
Last week, the financial arm of the Indian Railways reported a 6.3 per cent year-on-year fall in its…
