Aims: We study the optical spectral properties of a sample of stars showing far infrared colours similar to those of well-known planetary nebulae. The large majority of them were unidentified sources or poorly known in the literature at the time when this spectroscopic survey started, some 15 years ago. Methods: We present low-resolution optical spectroscopy, finding charts and improved astrometric coordinates of a sample of 253 IRAS sources. Results: We have identified 103 sources as post-AGB stars, 21 as ``transition sources'', and 36 as planetary nebulae, some of them strongly reddened. Among the rest of sources in the sample, we were also able to identify 38 young stellar objects, 5 peculiar stars, and 2 Seyfert galaxies. Up to 49 sources in our spectroscopic sample do not show any optical counterpart, and most of them are suggested to be heavily obscured post-AGB stars, rapidly evolving on their way to becoming planetary nebulae. Conclusions: An analysis of the galactic distribution of the sources identified as evolved stars in the sample is presented together with a study of the distribution of these stars in the IRAS two-colour diagram. Finally, the spectral type distribution and other properties of the sources identified as post-AGB in this spectroscopic survey are discussed in the framework of stellar evolution.