Ircon International Limited’s $64.8 Million Initial Public Offering


Hogan Lovells represented Ircon International Limited (IRCON), together with the Government of India as selling shareholder, in IRCON’s initial public offering

IRCON, formerly Indian Railway Construction Company Limited, is the Indian government’s transportation construction arm. This week’s IPO is part of an effort to privatize some of the government’s state-owned enterprises and public assets with the aim to raise approximately US$12.5bn by divestment in 2018-2019. IRCON is the second railway state owned enterprise to be publicly listed.

Led by Hong Kong Partner Stephen Peepels (Picture), Hogan Lovells advised on U.S. and international securities law issues, while drafting much of the prospectus for the IPO. Hong Kong Associate William Wu worked alongside Stephen on the transaction.

Involved fees earner: Stephen Peepels – Hogan Lovells; William Wu – Hogan Lovells;

Law Firms: Hogan Lovells;

Clients: Government of India; Ircon International Limited;