Mumbai: Retail investors mostly gave the government’s offer for sale (OFS) in Indian Railway Finance Corporation Ltd (IRFC) a miss on Thursday, the last day of the two-day issue. Against 3.79 crore shares reserved for retail investors, bids were received for around 5.9 lakh shares.
On Wednesday, institutional investors had placed bids for 22.34 crore shares, translating to a subscription of 94.98% of the shares in the category, as per exchange data. Following market hours on Wednesday, the government chose not to invoke the green-shoe option in the OFS, citing the undersubscription.