Mumbai, June 30: Infrastructure Development Finance Company (IDFC) today launched a roadshow for its initial public offering that will open on July 15.

The public issue, which will constitute 35.96 per cent of the fully diluted post-issue capital of IDFC, will lower the government stake from 35 per cent to less than 25 per cent.

The government is expected to sell 8.86 crore shares with a face value of Rs 10, comprising 8.84 per cent of the pre-issue capital.

IDBI, State Bank, ICICI, HDFC and IFCI will also divest small portions of their stakes in the company.