IRCON International IPO
IRCON International IPO — date, price band, lot size & details 2018
IRCON International listed on 28 Sep 2018 at ₹412, 13.3% below the ₹475 issue price.
IRCON International is a government engineering and construction company under the Ministry of Railways, building railways, highways, bridges and other infrastructure. Its total income was Rs 4,212.40 crore in FY2018.
Stock price
IRCON International is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 12 November.
- Open 17 Sep 2018
- Close 19 Sep 2018
- Allotment 25 Sep 2018
- Refund/credit 26 Sep 2018
- Listing 28 Sep 2018
Issue summary
The terms of the offer, as filed.
| IPO Dates | 17 to 19 Sep, 2018 |
|---|---|
| Price Band | ₹470 – ₹475 |
| Face Value | ₹10 |
| Lot Size | 30 Shares |
| Issue Size | ₹466.93 Cr |
| Sale Type | OFS only |
| Listing On | BSE, NSE |
| Employee Discount | Rs 10.00 per share |
| Registrar | KFin Technologies Limited |
| Min Investment | ₹ 14,250 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 30 shares at the ₹475 cut-off. Drag to size your application.
| 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 |
Strengths & risks
Drawn from the offer document — the case for and against, side by side.
Strengths · 4
- 01Total income rose from Rs 2,908.64 crore in FY2016 to Rs 4,212.40 crore in FY2018.
- 02Profit after tax rose from Rs 383.98 crore in FY2017 to Rs 411.58 crore in FY2018.
- 03It had no borrowing shown, with net worth of Rs 3,748.09 crore in FY2018.
- 04As a railway ministry company it works on large national projects; total assets were Rs 12,778.22 crore.
Risks · 5
- 01Profit after tax dipped from Rs 393.11 crore in FY2016 to Rs 383.98 crore in FY2017.
- 02Net worth fell from Rs 3,811.35 crore in FY2017 to Rs 3,748.09 crore in FY2018.
- 03Its work depends on government railway and road budgets; profit was Rs 411.58 crore in FY2018.
- 04The whole Rs 466.93 crore issue was an offer for sale, so none of it went to the company.
- 05The government held 99.71% before the issue and 89.18% after it, so it controls the company.
Three years of numbers
All figures in ₹ crore, as reported in the IRCON International offer document.
| Metric | 31 Mar 2018 | 31 Mar 2017 | 31 Mar 2016 |
|---|---|---|---|
| Assets | 12,778.22 | 9,231.41 | 8,139.41 |
| Total Income | 4,212.40 | 3,301.35 | 2,908.64 |
| Profit After Tax | 411.58 | 383.98 | 393.11 |
| NET Worth | 3,748.09 | 3,811.35 | 3,643.92 |
| Reserves and Surplus | 3,667.70 | 3,737.55 | 3,640.96 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Where the money goes
How the company intends to use the proceeds of the issue.
Information about the usage of proceeds from the IRCON International IPO will be updated shortly.
About the company
It works in engineering and construction, specialising in major infrastructure projects.
Its projects include highways, railways, bridges, flyovers, electrical and mechanical works, and commercial, residential and industrial developments.
The IPO was Rs 466.93 crore and was entirely an offer for sale by the Government of India at Rs 475, the top of the Rs 470 to Rs 475 band, so the company received no money.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
The bankers & the filings
Who is running the book, and the documents this page is built from.
IRCON International IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
SBI Capital Markets Ltd.
141 issues handledBest listing: Bajaj Housing Finance (+114.3%). Weakest: ICICI Securities (-16.3%).
Axis Capital
260 issues handledBest listing: Latent View Analytics (+160.0%). Weakest: Shriram Properties (-23.7%).
IDBI Capital Markets & Securities Ltd.
42 issues handledBest listing: Route Mobile (+104.9%). Weakest: Bharat Dynamics (-13.6%).
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of IRCON International?
The current Grey Market Premium is ₹9, or 2% over the issue price.
What is the IRCON International IPO price band?
₹470 to ₹475, on a face value of ₹10.
When is the allotment?
The basis of allotment is 25 September 2018, with listing on 28 September 2018.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — KFin Technologies Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
