The offer for sale from PSU and railway ministry company Ircon International Limited was subscribed. The issue comprised of an offer for sale of 99,09,157 shares in the price band of Rs 470 – 475. The issue had opened for subscription on Monday the 17th of September and closed on Wednesday the 19th of September. There was no anchor allocation as the government avoids issues involved with discretionary allocation.

The issue was subscribed an overall 9.90 times. QIB portion was subscribed 12.29 times, HNI portion was subscribed 4.92 times, Retail portion was subscribed 10.07 times and Employee quota was undersubscribed at 0.36 times. In the retail portion there were 9.18 lac applications which means the issue was subscribed on lots basis 8.37 times.

Details of the subscription are given below: –