IRCON International has issued a formal clarification to stock exchanges categorically denying any merger discussions with Rail Vikas Nigam Limited (RVNL), following media reports and regulatory queries about a proposed merger between the two railway infrastructure companies.

Official Stock Exchange Communication

The company submitted its response to both BSE Limited and National Stock Exchange of India Limited on March 6, 2026, addressing queries about news reports suggesting the Ministry of Railways had proposed a merger between IRCON and RVNL. The clarification was filed under Regulation 30 of the SEBI (LODR) Regulations, 2015.

Regulatory Response Details

IRCON's Company Secretary and Compliance Officer Pratibha Aggarwal signed the official response, stating that the news item regarding merger discussions "is not based on the information/details available with the Company." The company emphasized it is not engaged in any such discussions or negotiations.

Company's Position on Market Impact

The railway infrastructure company reiterated its commitment to promptly inform stock exchanges of any event or information that may materially impact its securities' price. IRCON stated there is currently no information or announcement related to its operations that may influence price behavior in the scrip.

Background Context

As a Government Company under Section 2(45) of the Companies Act, 2013, IRCON International operates as a Navratna company under the Government of India. The clarification addresses market speculation that had emerged following media reports about a potential merger proposal from the Ministry of Railways.

Market Transparency Measures

The formal denial provides clarity to investors and market participants regarding the company's current corporate development status. This official communication ensures shareholders can make informed investment decisions based on verified information rather than market speculation or unconfirmed media reports.

IRCON International Limited has announced a senior management personnel change following the superannuation of one of its Executive Directors. The Navratna company informed stock exchanges about the cessation of Shri Dunne Buji Bhuvan Kumar from his executive position.

Executive Director Cessation Details

Shri Dunne Buji Bhuvan Kumar ceased to be a Senior Management Personnel of IRCON International effective 28th February, 2026 (End of Day) upon attaining the age of superannuation. The Executive Director held the position of Executive Director/General at the railway infrastructure company.

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company provided requisite details pertaining to the changes in Senior Management Personnel as per SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated 30th January, 2026.

Stock Exchange Notification

The formal intimation was sent to both major stock exchanges where IRCON International shares are listed:

• BSE Limited: Scrip code 541956/IRCON
• National Stock Exchange of India Limited: Scrip Code IRCON

The notification was digitally signed by Pratibha Aggarwal, Company Secretary & Compliance Officer (Membership No. F8874), on 28th February, 2026 at 19:14:45 +05'30'. The date and time of the event was recorded as 28th February, 2026 at 1730 Hrs.

Company Background

IRCON International Limited operates as a Navratna company under the Government of India undertaking, specializing in railway infrastructure and construction projects. The company maintains transparency in corporate governance through timely disclosure of senior management changes as required by securities market regulations.