IRCON International Limited IPO

IRCON International Limited was established in 1976, IRCON International Limited, is New Delhi based engineering and construction company, specialising in major infrastructure projects including railways, highways, bridges, flyovers, tunnels, aircraft maintenance hangars, runways, EHV sub-stations, electrical and mechanical works, commercial and residential properties, development of industrial areas and other infrastructural activities. 

Company provides EPC services on a fixed-sum turnkey basis as well as on an item-rate basis for various infrastructure projects. In 2016, Company was ranked 248 in the list of the top 250 international contractors by Engineering News Record (ENR) of the US. IRCON has 26 project offices and 5 regional offices to support and manage its business operations throughout India and five overseas project offices in Sri Lanka, Bangladesh, Malaysia, South Africa and Algeria to provide onsite support overseas.

Company executes majority of its projects independently, but also forms joint ventures and consortiums with other infrastructure and construction companies, when specific project requires them or their partner to meet specific eligibility requirements. As of March 31, 2018 company has 1179 full time employees on its payroll.

IRCON International Limited IPO Details
Issue Open	17-09-2018
Issue Close	19-09-2018
Allotment Date	26-09-2018
Unblocked Amount	27-09-2018
Listing Date	28-09-2018
Issue Size	99,05,157 Total Equity Share 5,00,000 Fresh Issue Equity Share 94,05,157 Fresh Equity Share
Issue Size	₹ 470.49 Cr ₹ - Cr Fresh ₹ - Cr OFS
IPO Price Band	₹ 470 - ₹ 475 ₹ 10 Discount for RII & Employees
Minimum Share Bid	30
Minimum Investment Amount [₹]	₹ 14,250 After Discount ₹ 13,950
Face Value	₹ 10
Qualified Institutional Buyer [QIB]	50%
High Networth Individual [HNI]	15%
Retail Individual Investor [RII]	35%
Listing On	BSE & NSE

IRCON International Limited IPO Grey Market Premium [GMP]
Latest Update	Premium	Kostak	Subject to Sauda	Recommended
25-09-2018 : 09:00 AM	₹ 10 - ₹ 15	₹ -	₹ -	Neutral

IRCON International Limited IPO Financial details [in Rs, Cr]
Financial Year	Total Revenue	Total Expenses	Profit After Tax
FY-2013	4543.16	3453.18	804.89
FY-2014	4150.77	3053.42	746.98
FY-2015	3232.51	2390.06	570.13
FY-2016	2908.64	2302.53	362.44.
FY-2017	3301.35	2825.12	397.70
FY-2018	4212.40	3659.21	412.96

IRCON International Limited IPO Valuation Details
Earnings Per Share [EPS]	₹ 42.13
Price/Earnings [P/E] Ratio	11.27
Return on Net Worth [RoNW]	10.98 %
Net Asset Value [NAV]	₹ 398.51 Per Share

IRCON International Limited IPO Subscription Details
As on Date	QIB	NII	RII	Employee	Total
Shared Offred	47,02,578	14,10,774	32,91,805	5,00,000	99,05,157
Day-1 [17-09-2018]	0 [0.00]	54,000 [0.038]	28,29,720 [0.85]	9,150 [0.01]	28,92,870 [0.30]
Day-2 [18-09-2018]	43,050 [0.009]	2,69,520 [0.19]	97,43,790 [2.96]	53,640 [0.10]	1,01,10,000 [1.02]
Day-3 [19-09-2018] [Till-01:00]	5,50,650 [0.11]	6,26,310 [0.44]	1,83,38,610 [5.57]	1,18,080 [0.23]	1,96,33,650 [1.98]

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IRCON International Limited IPO Recommendations
Live IPO Team Recommendation:- Neutral

IRCON International Limited IPO Contact Details
IRCON International Limited Plot no. C - 4, District Centre, Saket, New Delhi -110017, India Contact Person: Ritu Arora, Telephone: +91 11 2956 5666 Fax: +91 11 2652 2000 / 2685 4000 E-mail: cosecy@ircon.org Website: www.ircon.org Corporate Identity Number: U45203DL1976GOI008171

Registrar of IRCON International Limited IPO
Karvy Computershare Private Limited Karvy Selenium Tower B, Plot 31-32, Gachibowli Financial District, Nanakramguda Hyderabad 500 032 Telangana, India Telephone: +91 40 6716 2222 Facsimile: +91 40 2343 1551 Email: einward.ris@karvy.com Investor Grievance e-mail: einward.ris@karvy.com Website: www.karisma.karvy.com Contact Person: M. Muralikrishna SEBI Registration No. INR000000221

Lead Managers of IRCON International Limited IPO

IDBI Capital Markets & Securities Limited (Formerly known as IDBI Capital Market Services Limited) 3rd Floor, Mafatlal Centre, Nariman Point Mumbai 400 021, Maharashtra, India Telephone: +91 22 4322 1212 Fax: +91 22 2285 0785 Email: ircon.ipo@idbicapital.com Investor grievance E-mail: redressal@idbicapital.com Website: www.idbicapital.com Contact Person: Astha Daga SEBI Registration No.: INM000010866 Axis Capital Limited 1st Floor, Axis House, C-2, Wadia International Centre, Pandurang Budhkar Marg, Worli Mumbai 400 025 Maharashtra, India Telephone: + 91 22 4325 2183 Fax : +91 22 4325 3000 E-mail: ircon.ipo@axiscap.in Website: www.axiscapital.co.in Investor Grievance E-mail: complaints@axiscap.in Contact Person: Kanika Sarawgi / Akash Aggarwal SEBI Registration Number: INM000012029 SBI Capital Markets Limited 202, Maker Tower “E” Cuffe Parade Mumbai 400 005 Maharashtra, India Telephone: +91 22 2217 8300 Fax: +91 22 2218 8332 E-mail: ircon.ipo@sbicaps.com Investor grievance E-mail: investor.relations@sbicaps.com Website: www.sbicaps.com Contact Person: Gitesh Vargantwar / Karan Savardekar SEBI Registration No.: INM000003531