Call us at : 011 4106 5208 / +91-7011197831

Shapoorji Groups Afcons Infra. To Raise Rs.7000 Crore In An IPO Soon.

Shapoorji Groups Afcons Infra. To Raise Rs.7000 Crore In An IPO Soon.

By: Geetanjali

Shapoorji Pallonji Groups construction and engineering wing Afcons Infrastructure Limited (AIL)  to soon launch its initial IPO (Initial Public Offering) to raise Rs.7000 crore. As Afcons has filed its IPO draft to the SEBI (Securities and Exchange Bureau of India) on Thursday, March 28, 2024.

Afcons will raise Rs.7000 crore through a mix of freshly issued shares and Offer for sale (OFS) shares. Rs.1,250 crore will be raised by the sale of freshly issued shares with face value of Rs.10 each.

And up to Rs.5,750 crore by selling shares held by Goswami Infratech Private Limited in the Afcons Infrastructure ltd. through an Offer for Sale (OFS). As per the sources, Company may raise Rs. 250 crore in an “pre IPO” sale which may reduce the number of freshly issued shares.

A portion of shares have been reserved for the eligible employees of Afcons.

Presently 99.48% stakes in the Afcons Infrastructure Limited are owned by the promoter and promoter group entities.

Afcons Infrastructure Limited, a Shapoorji Pallonji Group company, based in Mumbai. Having their presence in 12 countries in the Africa and Middle- East, it offers services in the infrastructure building arena, which includes: Highways, dams, bridges, tunnels, metros, marine infrastructure, and offshore oil and gas infrastructure, and other developmental projects.

Its parent company, The Shapoorji Pallonji Group, which was established in 1865, with a workforce of over 35,000 employees, has 15 major major companies under its umbrella from different business niches including Engineering & Construction, Infrastructure, Real Estate, Water, Energy and Financial Services.

Must Read:-


Please enter your comment!
Please enter your name here



More like this