IRCON OFS Date, Floor Price, Discount, OFS Size Details

IRCON OFS date is fixed as the government is to sell its 4% stake via OFS. The IRCON OFS will start on December 7 for non-retail and end on December 8 for retail investors. The offer for sale floor price at ₹154. The closing price of the IRCON on December 6 is ₹171.95 so it will be a 10.4% discount offered for the investors.
IRCON

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The offer for sale will take place on a separate window of the stock exchanges under the T+1 period. The OFS will take place between 9:15 am and 3:30 pm on December 7, 2023 for non-retail investors and will continue on December 8, 2023 for retail investors between 9:15 am and 3:30 pm.

IRCON OFS 2023 Details

OFS Open:December 7, 2023
OFS Close:December 8, 2023
OFS Floor Price:₹154 per share
Closing Price:₹171.95 as of December 6
OFS Discount:10.4% on closing price
Retail Discount:N/A
Base Size:3.76 Crore shares (4.0% of Equity)

“Offer for Sale in IRCON opens tomorrow for Non Retail investors. Retail investors can bid on Friday. Govt. would divest 8% equity including Green Shoe option,” posted the DIPAM Secretary on X platform.

The non-retail Investors who have placed their bids on December 7 and have chosen to carry forward their unallotted bids to December 8 (T+l Day), will be allowed to carry forward for allocation to them in the unsubscribed portion of the Retail Category and also revise their bids on T+l.

About IRCON

Ircon International Limited (IRCON), a government company incorporated by the Central Government (Ministry of Railways) under the Companies Act, 1956 on 28th April, 1976 originally under the name Indian Railway Construction Company Limited, is the leading turnkey construction company in the public sector known for its quality, commitment, and consistency in terms of Performance. IRCON has widespread operations in several States in India and other countries(Malaysia, Nepal, Bangladesh, Mozambique, Ethiopia, Afghanistan, the U.K. Algeria & Sri Lanka).

IRCON is a specialized construction organization covering the entire spectrum of construction activities and services in the infrastructure sector. However, Railway and Highway Construction, EHP sub-station (engineering and constructions), and MRTS are the core competence areas of IRCON.

IRCON operates not only in a highly competitive environment but also in difficult terrains and regions in India and abroad and is an active participant in prestigious nation-building projects. IRCON has so far completed more than 300 infrastructure projects in India and more than 100 projects across the globe in more than 21 countries.

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