IRCON's offer for sale to open for non-retail investors on Thursday
Dec 06, 2023
New Delhi [India], December 6 : The offer for sale (OFS) in IRCON will open on Thursday for non-retail investors, the Department of Divestment said in an X post.
Ircon International, or Indian Railway Construction International Limited, is an Indian engineering & construction corporation, specialized in transport infrastructure. The public sector undertaking was established in 1976.
Retail investors would be able to bid for the offer for sale on Friday.
Offer for Sale means the promoters (owners) selling their shares to raise additional funds for the company.
The central government would divest 8 per cent shares in IRCON, including the green shoe option, the X post said.
In financial markets parlance, the green shoe option is a provision that grants the seller the right to sell investors more shares than initially planned by the issuer if the demand proves higher than expected.
