Railway CPSE Ircon to raise funds by issuing fresh equity, diluting govt stake
Railway CPSE Ircon International plans to raise funds by issuing fresh equity shares, piggybacking on the government's proposal to dilute its stake to 75 per cent through follow-on public offer route, an official said.
The government, which holds 89.18 per cent stake in Ircon International, is required to bring it down to 75 per cent under the Sebi's minimum public shareholding norms. Image source: Official website