State-owned transport infrastructure company Ircon
International will launch its Rs 4.7-billion initial public offering
(IPO) on September 17.
The price band for the issue is Rs 470 to Rs 475 per share. Retail investors applying in the IPO
will be offered a discount of Rs 10 per share.
The Centre is diluting 10 per cent stake through the IPO, which will not involve any fresh fund raising. IDBI Bank, Axis Capital and SBI Capital Market
will handle the IPO.
will be only the second IPO
by a government-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.