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Govt is Set to Pace-up Disinvestment with IRCON International Limited IPO this Month

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Government of India will pace up it’s plan of disinvestment with IRCON IPO in the current fiscal. The IPO will be of the size of 470,49 crore with 9,905,157 equity shares on the tables. The IPO will be opening from 17th sept to 19th sept.

Following are few details about IRCON:

IRCON international limited is an ISO 90001:2008, ISO 14001:2004 and OHSAS-BS 18001:2007 certified company engaged in a diverse range of construction and infrastructure projects which is spread across several sectors including highways and road construction while having its primary focus in the railway sector. In 2016, the company has been recognised for its outstanding contracts performance by Engineering News Record (ENR) of the United States.

The core objective of this IPO are:

- To carry out the disinvestment of up to 9,905,157 Equity Shares, including Employee Reservation Portion, by the Selling Shareholder constituting 10.53% of Equity Share Capital.
- To achieve the benefits of listing the Equity Shares on Stock Exchanges.

Issue Open: 17th Sept 2018

Issue Close: 19th Sept 2018

Issue Type: Book building issue

Face Value: Rs 10 per equity share

Price Band: Rs 470- Rs 475 per equity share

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