Subscribe
My Reads e-paper IFSC Code Finder New
Subscribe
OPEN APP
Home >Companies >News >Govt to raise nearly 656 cr by selling 16% stake in Ircon International

Govt to raise nearly 656 cr by selling 16% stake in Ircon International

Premium
Ircon International is under the administrative control of Railways Ministry

  • The issue will be opened on Wednesday for non-retail investors and on Thursday for retail investors
  • The floor price has fixed at 88 a share, 10% discount from its today’s closing.

The government will sell 16% stake in Ircon International via offer for sale.

The government will sell 16% stake in Ircon International via offer for sale.

The issue will be opened on Wednesday for non-retail investors and on Thursday for retail investors.

The issue will be opened on Wednesday for non-retail investors and on Thursday for retail investors.

Subscribe to Continue Reading

The Floor price has fixed at 88 a share, 10% discount from its today’s closing. At the floor price, a 16% stake would fetch nearly Rs656 crore to the exchequer.

On Tuesday the scrip closed at 97.85 on BSE, up 1.87% from its previous close.

The base issue size of the OFS is 10% or over 4.70 crore equity shares, with a green-shoe option to retain over-subscription of 6% or over 2.82 crore shares.

Currently, the government holds 89.18% stake in the firm.

Click here to read the Mint ePaper
Mint is now on Telegram. Join Mint channel in your Telegram and stay updated with the latest business news.