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IRCON International ends flat as OFS concludes


IRCON International ended 0.16% higher at Rs 91.25 on the BSE today, after the company s offer for sale (OFS) concluded on Thursday, 4 March 2021.
The Government of India initially offered to sell over 4.70 crore shares, constituting 10% paid-up share capital of the company, through the OFS. The floor price for the OFS was set at Rs 88 per equity share, at a 10.07% discount to IRCON s closing price of Rs 97.85 on Tuesday, 2 March 2021.
The OFS opened on Wednesday (3 March 2021) for non-retail investors, while both retail as well as non-retail investors were allowed to subscribe on Thursday (4 March 2021).
On Wednesday (T day), the OFS received subscription for 10,84,93,968 shares or 329.59% against the base non-retail offer size of 3,29,18,051 shares. ....

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