Ircon International IPOs hits market today: All you want to know

New Delhi: Railways engineering and construction firm Ircon International's initial share-sale began on Monday.

The public issues is being floated as the government intends to unlock the value of such PSUs and bring in greater accountability.

This month defence shipbuilder Garden Reach Shipbuilders and Engineers will also come out with its IPOs this month.

Both the IPOs will together fetch about Rs 815 crore to the exchequer. The government is targeting to garner Rs 80,000 crore through stake sales in state-owned companies in 2018-19. In June this year, railway consultancy firm RITES made a successful initial share-sale.

Here's all you want to know about Ircon International IPOs

The bidding in Ircon's initial share-sale will begin on September 17 and close on September 19.

The equity shares of Ircon companies will be listed on BSE and NSE.

Ircon's initial public offer comprises an offer for sale of 9,905,157 equity shares or 10 percent stake by the government.

It has fixed a price band of Rs 470-475 per equity share.

At the higher end of the price band, the shares are estimated to fetch over Rs 470 crore.