Afcons Infrastructure Set to Launch Rs 5,430-Crore IPO
Afcons Infrastructure Ltd, part of the Shapoorji Pallonji Group, is launching its Rs 5,430-crore IPO on October 25. The IPO includes a fresh issue of shares and an offer for sale by Goswami Infratech. Proceeds will go toward equipment, working capital, debt repayment, and corporate purposes.
- Country:
- India
Afcons Infrastructure Ltd, a company under the Shapoorji Pallonji Group, is set to introduce its Rs 5,430-crore initial public offering (IPO) on October 25. The decision, documented in the red herring prospectus, marks a significant move for the infrastructure engineering and construction firm.
The IPO process, which concludes on October 29, begins with bidding for anchor investors on October 24. The price band details are expected next week. The offering includes a fresh share issue worth Rs 1,250 crore and an offer for sale by Goswami Infratech Private Limited, amounting to Rs 4,180 crore.
Most of the IPO proceeds will be allocated to acquiring construction equipment, boosting working capital, and repaying debt. Afcons, which is largely owned by its promoter group, compares itself to industry stalwarts like L&T and KEC International. Numerous financial advisors are involved in managing the IPO.
(With inputs from agencies.)
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