![Centre to sell upto 15% Stake in Indian Railway PSU IRCON Centre to sell upto 15% Stake in Indian Railway PSU IRCON](https://varindia.com/storage/news/uploads/2018/02/5faa5d791ba74.jpg)
According to the reports, the government has planned to sell up to 15 per cent of its stake in the railway engineering company IRCON International Ltd through an offer-for-sale of shares. The government currently holds 89.18 per cent stake in IRCON International.
On Friday (November 6), the shares of IRCON International closed at ₹ 77.95 apiece on the BSE. At the current market price, the government could raise about ₹ 450 crore by selling 15 per cent stake.
The government is looking to raise ₹ 2.10 lakh crore through disinvestment in the current fiscal. This includes ₹ 1.20 lakh crore from Central Public Sector Enterprise (CPSE) stake sale and ₹ 90,000 crore from sale of government stake in the financial institutions.
So far this fiscal, ₹ 6,138 crore has been raised from selling the minority stake in CPSEs as the COVID-19 pandemic has delayed the big-ticket disinvestments such as Bharat Petroleum Corporation Ltd (BPCL). The government is also in the process of selling a stake in Indian Railway Catering and Tourism Corp Limited (IRCTC) as well as the Rail Vikas Nigam Limited (RVNL) through the offer-for-sale of shares.
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