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IRFC Stock Drops Below ₹100 Mark for First Time Since January 2024 Amid Extended Sell-off
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IRFC Shares Plunge Below ₹100 Mark Amid Extended Sell-Off and Tepid OFS Response
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CNBC TV18
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02-03-2026, 12:20
IRFC Shares Plunge Below ₹100 Mark Amid Extended Sell-Off and Tepid OFS Response
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IRFC shares dropped below ₹100 for the first time since January 2024, hitting an intraday low of ₹96.05.
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The decline follows an extended sell-off and a subdued response to the company's Offer For Sale (OFS).
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The government aimed to sell up to 2% equity, with a green shoe option for another 2%, to meet minimum public shareholding norms.
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Only 1.7% of the planned 2% equity was sold, reducing government stake to 84.6% from 86.36%.
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IRFC still needs to sell an additional 9.6% stake to comply with Minimum Public Shareholding norms.
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