IRCON Initial public offering gets nod from Sebi
Market regulator Sebi has given its goahead for the initial public offering IPO of rail PSU IRCON, which could hit the markets in September to raise...
New Delhi: Market regulator Sebi has given its go-ahead for the initial public offering (IPO) of rail PSU IRCON, which could hit the markets in September to raise about Rs 500 crore, an official said.
IRCON had filed papers with the Securities and Exchange Board of India (Sebi) for the IPO, through which the government will divest 10 per cent stake or over 99 lakh shares.
"Sebi gave its nod for IRCON IPO on July 13," an official told PTI. The Finance Ministry would now organise roadshows for the share sale and subsequently the IPO would be launched in September, the official added.