Ircon stake sale on course; govt plans to raise around Rs 6 billion

Ircon might have to speed up this procedure and wind up its AGM by August to go for its listing in September

After the massive response from investors for the initial public offering (IPO) of RITES, the government is set to divest around 10.5 per cent stake in another Railways subsidiary, Ircon International, in September.  

The government is targeting to raise around Rs 6 billion through the listing of Ircon. On the other hand, the divestment of the government's stake in the other two Railways subsidiaries -- Rail Vikas Nigam Limited (RVNL) and Indian Railway Finance Corporation (IRFC) -- might happen during the October to December quarter of the current financial year. 

This is part of the Department of Investment and