IRCON Share Sale Over-Subscribed; Govt to Get Around Rs 1,100 Crore – News18

The authorities’s share sale in IRCON was oversubscribed, with investments from each institutional and retail buyers, and it’ll assist the exchequer garner about Rs 1,100 crore. The authorities is promoting about 7.53 crore fairness shares, representing 8 per cent of the railway public sector unit (PSU) at a flooring value of Rs 154 apiece via a two-day supply on the market (OFS).

The share sale would fetch about Rs 1,100 crore to the exchequer. “The second day of IRCON OFS closed with good interest from retail investors with 3.01 times subscription,” the Department of Investment and Public Asset Management (DIPAM) Secretary stated in a put up on X (previously Twitter) on Friday.

On Thursday, institutional buyers put bids for over 15.66 crore shares of IRCON International price Rs 2,400 crore, over-subscribing the portion reserved for them 4.63 occasions. Currently, the federal government holds 73.18 per cent in IRCON, an engineering and building agency.

Shares of IRCON closed at Rs 160.75 per piece, unchanged over Thursday’s shut on BSE. So far within the present fiscal, the federal government has raised Rs 8,859 crore by promoting a minority stake in CPSEs. The price range has set a goal of Rs 51,000 crore to be mopped up from PSU disinvestment.

(This story has not been edited by News18 workers and is revealed from a syndicated information company feed – PTI)