The government is planning for selling up to 15 per cent of its stake IRCON International Ltd., formerly Indian Railway Construction Ltd. through offer-for-sale (OFS) of shares, said an official aware of the development.
“We are planning for IRCON OFS by December depending on market conditions. The stake on offer would be between 10-15 per cent,” the official said.
In 2018, the engineering and construction firm specialized in transport infrastructure got listed on the stock exchanges and has raised Rs 467 crore from its Initial Public Offering (IPO). Currently, the government holds 89.18 per cent stake in the company and plans to sell up to 15 per cent. 
So far this fiscal, it has raised Rs 6,138 crore by selling minority stake in Central Public Sector Enterprise (CPSE), as COVID-19 pandemic delayed big ticket disinvestments like Bharat Petroleum Corporation Ltd. (BPCL). It is also in the process to sell stake in the Indian Railway Catering and Tourism Corp Ltd. (IRCTC) and Rail Vikas Nigam Ltd. (RVNL) through OFS of shares.
Shares of IRCON International Ltd. closed at Rs 77.85 per share on the NSE on Friday.