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The offer-for-sale by the Centre in Ircon International opens on Wednesday for non-retail investors and on Thursday for retail investors. The floor price has been fixed as ₹88 a share. The Government would divest 10 per cent equity of the company through the OFS (base issue) with a green shoe option to sell an additional 6 per cent stake. The Union Government proposes to sell up to 4.70 crore shares of the company (base issue) and 2.82 crore shares (green-shoe option).
The Centre aims to raise at least ₹413 crore through the stake sale. The stock of Ircon International on Tuesday closed at ₹97.85, up 1.87 per cent, on the BSE.
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