Upcoming IPO 2018 in India – IPO of Railway PSU IRCON plan to comes with Rs 500 Crore in India
SEBI has approved the IPO of railway company IRCON, how long will this issue open and what is the IRCON IPO details?. IRCON’s IPO will come in September, through this issue, the company plans to raise up to Rs 500 crore. In this, the government will sell about 10 per cent of the stock, that is, about 99 lakh shares.
According to IRCON sources, the company can launch its IPO in September. According to information from PTI, through the IRCON IPO, the government is going to sell its 10 percent stake or 99 lakh shares.
The Ministry of Finance can now move forward in selling IRCON to some government stake. This will add 500 crores to the exchequer. In addition to IRCON, the finance ministry is going to file a prospectus with the SEBI for the IPO of IRFC (Indian Railway Finance Corporation).
IRCON filed papers with the Securities and Exchange Board of India (Sebi) for its new IPO on July 13.
Last month SEBI had given a green signal to another Railway PSU RVNL IPO. The company builds railway infrastructure and special vehicles for high speed trains. Through this IPO, the government is going to sell 2.08 crore shares or its 10 percent stake.
In February this year, Finance Minister Arun Jaitley had emphasized on listing of rail companies. This list includes rights, RVNL, IRCON, IRFC (Indian Railway Finance Corporation) and IRCTC (Indian Railway Catering and Tourism Corporation).
Besides Rail PSU, government is also going to be disinvestant of several other initiatives. In this regard, many companies have filed draft papers with SEBI. This includes Indian Renewable Energy Development Agency (IREDA), Mazagon Doch Shipbuilders and Garden Reach Shipbuilders and Engineers.
In the first three months of this financial year, the government has raised Rs 9,000 crore through the IPO of Indo-22 ETF and RITES. In this fiscal year, the government has set a target of raising Rs 80,000 crore through disinvestment, which is the last and the last.
IRCON International IPO Review & Recommendation:
- To be Updated…soon
IRCON International IPO Details
|Subscription Dates||17 – 19 Sept 2018|
|Issue Price Band||INR|
|Minimum bid (lot size)||– Shares|
|Minimum bid Price||INR|
|Face Value||INR 10 per share|
|IPO Size||INR 500-600 Cr|
|Issue Type||Book Built Issue IPO|
|Listing At||BSE, NSE|
IRCON International IPO Financial Performance (in INR crore)
IRCON International IPO Subscription Status
|Category||Day 1||Day 2||Day 3|
IRCON IPO Tentative Dates: Allotment & Listing Details:
- Bid/Offer Opens On: Sept 2018
- Bid/Offer Closes On: Sept 2018
- Basis of Allotment: On or about: Sept 2018
- Refunds Status: On or about: Sept 2018
- Credit of Equity Shares to demat accounts: On or about: Sept 2018
- Listing Date: On or about: Sept 2018
Objects of the Issue:
IRCON International IPO Prospectus:
- DRHP Draft Prospectus
- Red Herring Prospectus
IRCON International IPO Lead Managers:
IRCON IPO Promoters:
Company Contact Information:
IRCON IPO Registrar: