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Ircon International planning to raise funds by issuing fresh equity shares

20 May 2019 Evaluate

Ircon International is planning to raise funds by issuing fresh equity shares, piggybacking on the government's proposal to dilute its stake to 75% through follow-on public offer route. The government, which holds 89.18% stake in Ircon International, is required to bring it down to 75% under the Sebi's minimum public shareholding norms.

In view of the proposal of Ircon to raise funds through fresh equity issuance, it has been decided to keep in abeyance the Offer For Sale (OFS) decision of the government. Once the Cabinet approves the proposal, an FPO would be launched for lowering government stake and issuing fresh equity by the company.

Ircon International is an integrated Indian engineering and construction company, specializing in major infrastructure projects, including, railways, highways, bridges, flyovers, tunnels, aircraft maintenance hangars, runways, EHV sub-stations, electrical and mechanical works, commercial and residential properties, development of industrial areas, and other infrastructure activities.

Ircon International Share Price

154.75 12.35 (8.67%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Larsen & Toubro 4094.95
Rail Vikas Nigam 303.10
NCC 161.30
KEC International 580.10
Kalpataru Projects 1232.90
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