The centre is diluting 25 per cent stake through the IPO, which will not involve any fresh fund raising.
IDBI Bank and Yes Securities are handling the IPO. Garden Reach’s IPO is the third offering by a state-owned company this fiscal.
In June, the centre had raised Rs 4.6 billion through the IPO of Rites, a firm that operates in transport consultancy and engineering sector. Next week, Ircon International’s Rs 4.7-billion IPO opens for subscription next week.