 "Ircon International retail book offering sees subscription of 98%")
The retail portion of the Ircon International offer for sale (OFS) has garnered 98 per cent subscription. The unsubscribed portion will be allotted to non-retail investors, as demand by this segment had exceeded supply. On an overall basis, the OFS saw 1.45x subscription.
Through the share sale, the government seeks to mop up Rs 675 crore. Shares of Ircon closed at Rs 91.25 on Thursday. The floor price for the OFS was set at Rs 88 per share.
Most bids came at close to Rs 90 per share. After the share sale, the government’s stake in Ircon will drop to 73.18 per cent, from the 89.18 per cent at present.
One subscription. Two world-class reads.
Already subscribed? Log in
Subscribe to read the full story →*Subscribe to Business Standard digital and get complimentary access to The New York Times
Smart Quarterly
₹900
3 Months
₹300/Month
SAVE 25%
Smart Essential
₹2,700
1 Year
₹225/Month
SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months
Super Saver
₹3,900
2 Years
₹162/Month
Subscribe
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app
SAVE 25%