Institutional investors oversubscribe IRCON International's OFS, bids surpass Rs 2,400 cr
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Mumbai, Dec. 7 -- Institutional investors have oversubscribed the government's offer to sell an 8% stake in government-owned IRCON International, with bids exceeding Rs 2,400 crore on Thursday.
IRCON International, or Indian Railway Construction International Limited, is an Indian engineering & construction corporation, specialized in transport infrastructure.
The issue will be open for retail investors on Friday.
Presently, the government holds a 73.18% stake in IRCON, an engineering and construction company.
So far in the current fiscal, the government has raised Rs 8,859 crore by selling minority stake in CPSEs. The budget has set a target of Rs 51,000 crore to be mopped up from PSU disinvestment.
Published by HT Digital Content S...
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