The government will sell up to an 8 per cent stake in IRCON International through an offer-for-sale, which will open on Thursday, the rail public sector undertaking said in an exchange filing.
The plan is to offload 37.6 million equity shares, of face value of Rs 2 each—representing 4 per cent of the company for non-retail investors on Thursday. There will be an option to sell an additional 4 per cent if the offer is oversubscribed the following day, in case of both retail and non-retail investors.
“Offer for Sale in IRCON opens tomorrow for Non-Retail investors. Retail investors can bid on Friday. Government would divest 8 per cent equity, including Green Shoe option,” DIPAM Secretary Tuhin Kanta Pandey said on X.
