The Indian government aimed to raise ₹1,158 crore by selling 8% of IRCON shares through OFS. IRCON is a public-sector undertaking (PSU) under the Ministry of Railways, Government of India.
The offer for sale opened on December 7 and closed on December 8, 2023. The shares were sold for 154 rupees per share in this OFS. On December 7 at 1:30 pm, the share price of IRCON was 162 rupees.
The IRCON Shares OFS will be open for non-retail investors on December 7th and for retail investors on December 8th.
Also Read: ITC can acquire 44% shares of Adani Wilmar
About IRCON
Ircon International Limited (IRCON) is an engineering and construction company in India that specialises in infrastructure projects. It is a public-sector undertaking (PSU) under the Ministry of Railways, Government of India. IRCON was founded in 1976 and has its headquarters in New Delhi, India.
Key areas of focus for IRCON include:
- Railway Projects: IRCON is involved in the construction and maintenance of railway tracks, signalling systems, electrification, and other related infrastructure.
- Highway Projects: The company is engaged in the construction of highways, bridges, and other road-related projects.
- Metro Rail Projects: IRCON plays a significant role in the development and execution of metro rail projects in various cities.
- International Projects: IRCON has executed projects in several countries, contributing to the development of transportation and infrastructure on a global scale.
(Disclaimer: Tradingminds does not provide advice or specific recommendations on investment decisions. Before investing in the stock market, do your research or seek advice from a financial advisor.)
Share
1 thought on “Govt Sell 8% of IRCON For raise ₹1200cr”