Bookbuilding IPO | ₹467 Cr | Listed at BSE, NSE | Mon, Sep 17, 2018 - Wed, Sep 19, 2018
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 per share. The lot size for an application is 30. The minimum amount of investment required by an retail is ₹14,250 (30 shares) (based on upper price). 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 Open
Mon, Sep 17, 2018
IPO Close
Wed, Sep 19, 2018
Issue Price
₹475 per share
Market Cap (Pre-IPO)
₹4,467.45 Cr
| IPO Date | 17 to 19 Sep, 2018 |
| Listed on | Fri, Sep 28, 2018 |
| Face Value | ₹10 per share |
| Price Band | ₹470 to ₹475 |
| Issue Price | ₹475 per share |
| Lot Size | 30 Shares |
| Sale Type | OFS only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Retail Discount | Rs 10.00 per share |
| Employee Discount | ₹10.00 |
| Total Issue Size | 99,05,157 shares (agg. up to ₹467 Cr) |
| Offer for Sale | 99,05,157 shares of ₹10 (agg. up to ₹467 Cr) |
| Share Holding Pre Issue | 9,40,51,574 shares |
| Share Holding Post Issue | 9,40,51,574 shares |
| BSE Script Code / NSE Symbol | 541956 / IRCON |
| ISIN | INE962Y01013 |
IRCON International IPO comprises a total issue size of 99,05,157 shares. The net offer to the public is 94,05,157 shares, after excluding 5,00,000 shares under a preferential allotment. Of the Net offer 47,02,578 (50.00%) are allocated to QIB, 14,10,774 (15.00%) allocated to NII 32,91,805 (35.00%) allocated to RII.
| Investor Category | Shares Offered | % of Net Issue | % of Total Issue | Max Allottees |
|---|---|---|---|---|
| QIB Shares Offered | 47,02,578 | 50.00% | 47.48% | NA |
| NII (HNI) Shares Offered | 14,10,774 | 15.00% | 14.24% | NA |
| Retail Shares Offered | 32,91,805 | 35.00% | 33.23% | 1,09,726 |
| Preferential Reservations | ||||
| Employee Shares Offered | 5,00,000 | 5.05% | NA | |
| Total Shares Offered | 99,05,157 | 100.00% | 100.00% | |
Investors can bid for a minimum of 30 shares and in multiples thereof.
| 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 |
| 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 |
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
| Period Ended |
|---|
| Amount in ₹ Crore |
The IRCON International IPO is subscribed 9.77 times on September 19, 2018 6:29:01 PM (Day 3). The public issue subscribed 9.66 times in the retail category, 12.29 times in the QIB category, and 4.92 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB | 12.29 | 47,02,578 | 5,78,08,890 |
| NII | 4.92 | 14,10,774 | 69,40,950 |
| Retail | 9.66 | 32,91,805 | 3,18,07,260 |
| Employee | 0.36 | 5,00,000 | 1,82,370 |
| Total | 9.77 | 99,05,157 | 9,67,39,470 |
A discount of Rs 10 per equity share is offered to applications in retail and employee quota.
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Payment to BRLMs (including underwriting commission, brokerage and selling commission) | 5.09 |
| 2 | Commission and processing fees for SCSBs, brokerage, bidding charges and selling commission for Syndicate Member, Registered Brokers, RTAs and CDPs | 0.83 |
| 3 | Fees payable to the Registrar to the Offer | |
| 4 | Other regulatory expenses | 1.65 |
| 5 | Advertising and marketing for the Offer | 10.87 |
| 6 | Fees payable to Legal Counsels | 1.18 |
| 7 | Miscellaneous | 1.19 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹475.00 | ₹475.00 |
| Open | ₹410.30 | ₹412.00 |
| Low | ₹410.30 | ₹409.10 |
| High | ₹464.40 | ₹465.00 |
| Last Trade | ₹416.65 | ₹415.30 |
IRCON International IPO is a main-board IPO of 99,05,157 equity shares of the face value of ₹10 aggregating up to ₹467 Crores. The issue is priced at ₹475 per share. The minimum order quantity is 30.
The IPO opens on Mon, Sep 17, 2018, and closes on Wed, Sep 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 Mon, Sep 17, 2018 and closes on Wed, Sep 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 Wed, Sep 26, 2018. Check the IRCON International IPO allotment status.
The IRCON International IPO listing date is on Fri, Sep 28, 2018.
