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The offer-for-sale of Ircon International was subscribed 2.06 times on Thursday, according to data available on the NSE. It was opened on Wednesday for non-retail investors and on Thursday for retail investors. As against the total issue size (including green shoe option) of 2.25 crore shares, it has received bids for 4.65 crore shares.
The floor price for the offer was ₹88 a share.
The Government has divested 16 per cent stake (10 per cent base size and 6 per cent in case of over-subscription) in the company through the offer-for-sale. The stock of Ircon International closed at ₹91.25 on the BSE.
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