IRCON’s OFS receives overwhelming response from investors, retail investors will be able to apply on Friday.

IRCON OFS: Ircon International’s offer for sale has received strong response from institutional investors. On Friday 8 December, retail investors will be able to apply in the Offer Fall Sale. Over 100 percent subscription was received for the fixed quota from institutional investors on Thursday. Institutional investors have bid for shares worth Rs 2,400 crore in OFS.

The government is going to sell its 8 per cent stake in IRCON through an offer for sale offering 7.53 crore equity shares. The government has set an offer price of Rs 154 per share in IRCON’s offer for sale. Non-retail investors bid for over 15.66 crore shares on Thursday, while over 3.38 crore shares were reserved for them. The bid indicator price was Rs 157.24. The government currently holds 73.18 percent stake in IRCON.

Well, on Thursday, the stock of IRCON International saw a big fall. The stock fell 6.51 percent to Rs 160.75. The stock is believed to have declined due to the discount price being fixed at Rs 154. The impact was also seen on the rights of IRCTC and other railways shareholders. In recent times it has been seen that whenever the government brings a sale offer of any company, the next day there is a big fall in the stock and the share falls to the floor price. Over the past one year, IRCON shares have given investors huge returns. In the budget for the financial year 2023-24, a target of raising Rs 51,000 crore from disinvestment of public sector enterprises has been set.

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