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IRCON International IPO is a book build issue of ₹466.93 crores. The issue is entirely an offer for sale of 0.99 crore shares of ₹466.93 crore.
IRCON International IPO bidding started from Sep 17, 2018 and ended on Sep 19, 2018. The allotment for IRCON International IPO was finalized on Sep 25, 2018. The shares got listed on BSE, NSE on Sep 28, 2018.
IRCON International IPO price band is set at ₹475.00 per share . The lot size for an application is 30. The minimum amount of investment required by an retail is ₹14,100 (30 shares). The lot size investment for sNII is 15 lots (450 shares), amounting to ₹2,13,750, and for bNII, it is 71 lots (2,130 shares), amounting to ₹10,11,750.
The issue includes a reservation of up to 5,00,000 shares for employees offered at a discount of ₹10.00 to the issue price.
Axis Capital Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Refer to IRCON International IPO RHP for detailed Information.
| IPO Date | September 17, 2018 to September 19, 2018 |
| Listing Date | September 28, 2018 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹470 to ₹475 per share |
| Issue Price Final | ₹475 per share |
| Lot Size | 30 Shares |
| Sale Type | Offer For Sale |
| Total Issue Size | 99,05,157 shares (aggregating up to ₹466.93 Cr) |
| Retail Discount | Rs 10.00 per share |
| Employee Discount | ₹10.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 9,40,51,574 shares |
| Share Holding Post Issue | 9,40,51,574 shares |
IRCON International IPO offers total 99,05,157 shares. Out of which 47,02,578 (47.48%) allocated to QIB, 14,10,774 (14.24%) allocated to NII, 32,91,805 (33.23%) allocated to RII.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 47,02,578 (47.48%) | NA |
| NII (HNI) Shares Offered | 14,10,774 (14.24%) | NA |
| Retail Shares Offered | 32,91,805 (33.23%) | 1,09,726 |
| Employee Shares Offered | 5,00,000 (5.05%) | NA |
| Total Shares Offered | 99,05,157 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
IRCON International IPO opens on September 17, 2018, and closes on September 19, 2018.
| IPO Open Date | Mon, Sep 17, 2018 |
| IPO Close Date | Wed, Sep 19, 2018 |
| Tentative Allotment | Tue, Sep 25, 2018 |
| Initiation of Refunds | Wed, Sep 26, 2018 |
| Credit of Shares to Demat | Wed, Sep 26, 2018 |
| Tentative Listing Date | Fri, Sep 28, 2018 |
| Cut-off time for UPI mandate confirmation | 5 PM on Wed, Sep 19, 2018 |
Investors can bid for a minimum of 30 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 30 | ₹14,250 |
| Retail (Max) | 14 | 420 | ₹1,99,500 |
| S-HNI (Min) | 15 | 450 | ₹2,13,750 |
| S-HNI (Max) | 70 | 2,100 | ₹9,97,500 |
| B-HNI (Min) | 71 | 2,130 | ₹10,11,750 |
Incorporated in 1976, Delhi based IRCON International Limited is a government company (under the Ministry of Railways) engaged in the business of engineering and construction. The company specializes in major infrastructure projects including highways, railways, bridges, flyovers, electrical and mechanical works, development of commercial, residential and industrial areas. It was ranked 248 in the list of 250 of top 250 global contractors by USA based Engineering News Record (ENR).
IRCON is headquartered in Delhi and has 26 project offices, 5 regional offices in India and 5 overseas project offices in Sri Lanka, Bangladesh, Malaysia, South Africa, and Algeria.
The company has 1,175 full-time employees on its payroll.
Competitive Strengths of the company-
1. Diversified business across many countries
2. Strong Financial performance with a robust credit profile
3. Strong order book of Rs 223,871.7 million as on Dec 31st, 2017.
4. Continuously expanding footprint within and beyond India
| Particulars | For the year/period ended (in Rs. Million) | |||||
|---|---|---|---|---|---|---|
| 31-Mar-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15 (Proforma) | 31-Mar-14 | 31-Mar-13 | |
| Total Assets | 127,782.22 | 92.314.11 | 81,394.06 | 65,210.01 | 62,134.65 | 62,389.08 |
| Total Revenue | 42,124.02 | 33,013.48 | 29,086.37 | 33,325.05 | 41,507.70 | 45,431.58 |
| Profit After Tax | 4,115.80 | 3,839.78 | 3,931.08 | 5,630.31 | 7,469.80 | 8,048.95 |
| Particulars | For the year/period ended (in Rs. Millions) | |||||
|---|---|---|---|---|---|---|
| 31-Marc-18 | 31-Mar-17 | 31-Mar-16 | 31-Mar-15(Proforma) | 31-Mar-14 | 31-Mar-13 | |
| Total Assets | 1,27,079.37 | 91,676.27 | 81,367.77 | 65,287.03 | 61,718.40 | 62,393.25 |
| Total Revenue | 41,230.59 | 33,544.28 | 28,343.49 | 32,192.33 | 41,588.22 | 45,600.59 |
| Profit After Tax | 3,908.60 | 3,688.51 | 3,693.04 | 5,591.28 | 7,403.85 | 8,131.88 |
The objects of the Issue are:
1. To carry out the disinvestment of up to 9,905,157 Equity Shares by the Selling Shareholder constituting 10.53% of the pre-offer paid up Equity Share capital of the Company
2. To achieve the benefits of listing the Equity Shares on the Stock Exchanges.
The Company will not receive any proceeds from the Offer and all proceeds shall go to the Selling Shareholder.
[Dilip Davda] Encouraging financial performance, healthy order book and attractive pricing makes this offer a not to miss bet. Read detail review...
A discount of Rs 10 per equity share is offered to applications in retail and employee quota.
| Listing Date | September 28, 2018 |
| BSE Script Code | 541956 |
| NSE Symbol | IRCON |
| ISIN | INE962Y01013 |
| Final Issue Price | ₹475 per share |
IRCON International Ltd.
Plot no. C - 4
District Centre, Saket
New Delhi -110017, India
New Delhi, New Delhi
Phone: +91 11 2956 5666
Email: cosecy@ircon.org
Website: http://www.ircon.org/
Kfin Technologies Ltd.
Phone: 04067162222, 04079611000
Email: einward.ris@karvy.com
Website: https://ipostatus.kfintech.com/
IRCON International IPO is a main-board IPO of 99,05,157 equity shares of the face value of ₹10 aggregating up to ₹466.93 Crores. The issue is priced at ₹475 per share. The minimum order quantity is 30.
The IPO opens on September 17, 2018, and closes on September 19, 2018.
Kfin Technologies Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in IRCON International IPO using UPI as a payment gateway. Zerodha customers can apply in IRCON International IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in IRCON International IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The IRCON International IPO opens on September 17, 2018 and closes on September 19, 2018.
IRCON International IPO lot size is 30, and the minimum amount required for application is ₹14,250.
You can apply in IRCON International IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for IRCON International IPO will be done on Tuesday, September 25, 2018, and the allotted shares will be credited to your demat account by Wednesday, September 26, 2018. Check the IRCON International IPO allotment status.
The IRCON International IPO listing date is on Friday, September 28, 2018.
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