IRCON gets Sebi nod for IPO, issue likely in Sept

IRCON gets SEBI nod for IPO, issue likely in Sept.

Markets 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 SEBI for the IPO, through which the government will divest 10% stake, or more than 99 lakh shares. The share sale is expected to fetch about Rs. 500 crore to the exchequer. The Centre is also readying share sale plans of IRFC.PTI

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