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Date of Post: 16 Sep, 2018
New Delhi: Railways engineering and construction firm, Ircon International Limited has opened its Initial Public Offering (IPO) for subscription on September 17.
The company has fixed the price band between Rs 470 to Rs 475 per equity share for its proposed IPO. The IPO is comprising an offer for sale of 9,905,157 equity shares or 10% stake by the government, and the issue proposes to close on September 19.
- The equity shares of these companies will be listed on BSE and NSE.
- At the higher end of the price band, the shares are estimated to fetch over Rs 4.7 billion.
- The public issues are being floated as the government intends to unlock the value of such PSUs and bring in greater accountability.
- The government is targeting to garner Rs 8000 billion through stake sales in state-owned companies in 2018-19.
- In June this year, railway consultancy firm RITES made a successful initial share-sale.
About Ircon International:
Ircon International, which commenced operations in 1976, is an integrated Indian engineering and construction company, specialising in major infrastructure projects, including, railways, highways, bridges, flyovers, tunnels, aircraft maintenance hangars, runways, EHV sub-stations, electrical and mechanical works, commercial and residential properties, development of industrial areas, and other infrastructure activities.
The company provides EPC services on a fixed-cum turnkey basis as well as on an item-rate basis for various infrastructure projects.
It also executes on build, operate and transfer mode in various projects in order to meet the requirements of its bids.
It has 5 overseas offices in Sri Lanka, Bangladesh, Malaysia, South Africa and Algeria to provide onsite support for its overseas projects.
Deepak Kumar is a part of the content team of Rail Analysis India as a writer and analyst .
His focus is on new initiatives on the Railway Sector of India .
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