The government will sell upto 8 per cent stake in IRCON through an offer for sale beginning on Thursday, which will help mop up about ₹1,100 crore.
"Offer for Sale in IRCON opens tomorrow (Thursday) for non-retail investors. Retail investors can bid on Friday. Govt. would divest 8 per cent equity, including greenshoe option," Department of Investment and Public Asset Management (DIPAM) Secretary Tuhin Kanta Pandey said in a post on X.
The government will sell about 7.53 crore equity shares, representing 8 per cent in the railway PSU at a floor price of ₹154 a piece.
The OFS, if fully subscribed, would fetch about ₹1,100 crore to the exchequer.
The government currently holds 73.18 per cent in IRCON, an engineering and construction firm.
So far in the current fiscal, the government has raised ₹8,859 crore by selling minority stake in CPSEs. The Budget has set a target of ₹51,000 crore to be mopped up from PSU disinvestment.