The retail portion of the Ircon Worldwide present in the marketplace (OFS) has garnered 98 per cent subscription. The unsubscribed portion will most likely be allotted to non-retail merchants, as demand by this part had exceeded present. On an common basis, the OFS seen 1.45x subscription.
By way of the share sale, the federal authorities seeks to mop up Rs 675 crore. Shares of Ircon closed at Rs 91.25 on Thursday. The bottom worth for the OFS was set at Rs 88 per share.
Most bids bought right here at close to Rs 90 per share. After the share sale, the federal authorities’s stake in Ircon will drop to 73.18 per cent, from the 89.18 per cent at present.
First Printed: Thu, March 04 2021. 22:13 IST