State-run rail infrastructure engineering firm Ircon International files for IPO

Government owned and operated railway infrastructure engineering and construction company Ircon International Limited has filed its draft prospectus with SEBI to float an IPO. The government, which is acting as the promoter through the Ministry of Railways, has proposed the sale of 9.9 million Ircon shares, or a 10.53 per cent stake in the company, through the public float. Reportedly, the IPO size is estimated at Rs 10 billion.