Indian Railway Finance Corporation (IRFC), a public sector undertaking, recently launched its first public offering to raise funds for investing in railway projects. The offering received a great response from investors as it was oversubscribed by more than 3 times on the first day of bidding. This is expected to aid the government's target of divesting its stake in public sector companies to raise funds. With this successful offering, IRFC has become the first PSU to kick off the government's ambitious disinvestment plans for this fiscal year.