{"id":4518,"date":"2024-10-19T16:31:11","date_gmt":"2024-10-19T11:01:11","guid":{"rendered":"https:\/\/lakshmishree.com\/news\/?p=4518"},"modified":"2024-10-19T16:31:51","modified_gmt":"2024-10-19T11:01:51","slug":"afcons-infrastructure-a-shapoorji-pallonji-group-company-files-rhp-for-%e2%82%b95430-crore-ipo-opens-october-25","status":"publish","type":"post","link":"https:\/\/lakshmishree.com\/news\/afcons-infrastructure-a-shapoorji-pallonji-group-company-files-rhp-for-%e2%82%b95430-crore-ipo-opens-october-25\/","title":{"rendered":"Afcons Infrastructure, a Shapoorji Pallonji Group Company, Files RHP for \u20b95,430 Crore IPO; Opens October 25"},"content":{"rendered":"\n

Afcons Infrastructure, a Shapoorji Pallonji Group-owned engineering and construction company, has filed a Red Herring Prospectus (RHP) with the Registrar of Companies for an initial public offering (IPO) worth \u20b95,430 crore. The IPO will be open for subscription from October 25 to October 29. The price band for the offering will be disclosed next week.<\/p>\n\n\n\n

The IPO comprises a fresh issuance of equity shares worth \u20b91,250 crore and an offer-for-sale (OFS) of \u20b94,180 crore from promoter Goswami Infratech. Before the IPO, Goswami Infratech’s stake in the company was reduced to 53.52% from 71.87% after transferring over 6.25 crore shares to various marquee investors in a pre-IPO round. Prominent investors included Discovery Global Opportunity, SBI General Insurance, The Prudential Assurance Company, and Ashoka India Equity Investment Trust.<\/p>\n\n\n\n

Anchor Book and Allotment Details<\/strong><\/p>\n\n\n\n

The anchor book will be available for a one-day subscription on October 24, prior to the IPO opening. Post the IPO, the basis of share allotment will be finalized by October 30, with shares being credited to successful applicants’ demat accounts by October 31. Trading of the company’s shares is expected to commence on the NSE and BSE from November 4.<\/p>\n\n\n\n

Use of Proceeds<\/strong><\/p>\n\n\n\n

Afcons Infrastructure plans to utilize \u20b980 crore from the fresh issue for purchasing construction equipment, \u20b9320 crore for long-term working capital, and \u20b9600 crore to repay outstanding debt. The remaining funds will be used for general corporate purposes, providing financial flexibility to support future growth.<\/p>\n\n\n\n

Operational and Financial Overview<\/strong><\/p>\n\n\n\n

Afcons has executed 79 projects across 17 countries since FY13 amounting to \u20b9 56,305 crore. As of June 2024, the company had 65 projects under execution in 12 countries amounting to \u20b9 31,747 crore. The net increased 9.5% to \u20b9449.7 crore in FY24 while revenue increased 5% YoY to \u20b913,267.5 crore. Its net rose 0.7% to \u20b991.6 crore for the quarter ending June 2024, though revenue tumbled 0.5% to \u20b93,154.4 crore.<\/p>\n\n\n\n

Do you have a news tip for Lakshmishree reporters? Please email us at <\/em>media@lakshmishree.com<\/p>\n\n\n\n

Source:\u00a0Moneycontrol<\/a><\/sup><\/sub><\/p>\n","protected":false},"excerpt":{"rendered":"

Afcons Infrastructure, a Shapoorji Pallonji Group-owned engineering and construction company, has filed a Red Herring Prospectus (RHP) with the Registrar of Companies for an initial public offering (IPO) worth \u20b95,430 crore. The IPO will be open for subscription from October 25 to October 29. The price band for the offering will be disclosed next week. […]<\/p>\n","protected":false},"author":1,"featured_media":4519,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"default","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"set","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"ast-content-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"tablet":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""},"mobile":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center center","background-size":"auto","background-attachment":"scroll","background-type":"","background-media":"","overlay-type":"","overlay-color":"","overlay-opacity":"","overlay-gradient":""}},"footnotes":""},"categories":[55],"tags":[536],"class_list":["post-4518","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ipo-news","tag-afcons-info-ipo"],"_links":{"self":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4518","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/comments?post=4518"}],"version-history":[{"count":2,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4518\/revisions"}],"predecessor-version":[{"id":4521,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/posts\/4518\/revisions\/4521"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media\/4519"}],"wp:attachment":[{"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/media?parent=4518"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/categories?post=4518"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/lakshmishree.com\/news\/wp-json\/wp\/v2\/tags?post=4518"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}