India, June 26 -- Institutional investors on Wednesday put in bids worth over Rs 1,900 crore for Indian Railway Finance Corporation (IRFC) shares, over-subscribing the portion reserved for them.

Non-retail investors placed bids for over 21.87 crore IRFC shares, or 1.86 times of the 11.76 crore shares reserved for them. The indicative price for the bids is Rs 91.10 per share, stock exchange data showed.

The government is selling up to 2 per cent stake or 26.13 crore shares in IRFC at a floor price of Rs 91/share. The OFS includes a greenshoe option of 1 per cent stake.

Department of Investment and Public Asset Management (DIPAM) Secretary Arunish Chawla said the OFS has received "enthusiastic response from the investors".

"The Governme...