Afcons Infrastructure has set a price band of Rs 440 to Rs 463 per equity share of Rs 10 face value for Rs 5,430 crore initial public offering.
Mumbai: Infrastructure engineering and construction arm of the Shapoorji Pallonji Group, Afcons Infrastructure has set a price band of Rs 440 to Rs 463 per equity share of Rs 10 face value for Rs 5,430 crore initial public offering.
The public issue opens on Friday, Oct. 25 and closes on Oct.29, 2024.
The public offer comprises of a fresh issue of equity shares worth Rs 1,250 crore and an offer for sale of equity shares worth Rs 4,180 crore by its promoter Goswami Infratech.
Afcons Infrastructure has a track record of executing numerous technologically complex EPC projects both within India and internationally.The company is one of India’s largest international infrastructure construction companies, based on international revenue. In the last ten financial years and the six months ended September 30, 2023. Afcons has successfully completed 76 projects across 15 countries.
The net proceeds from the fresh issue will be used towards purchase of construction equipment(Rs 150 crore),funding of long term working capital requirement( Rs 350 crore), payment of certain outstanding borrowings(Rs 500 crore) and for general corporate purposes.
The public offer comprises of a fresh issue of equity shares worth Rs 1,250 crore and an offer for sale of equity shares worth Rs 4,180 crore by its promoter Goswami Infratech.
Afcons Infrastructure has a track record of executing numerous technologically complex EPC projects both within India and internationally.The company is one of India’s largest international infrastructure construction companies, based on international revenue. In the last ten financial years and the six months ended September 30, 2023. Afcons has successfully completed 76 projects across 15 countries.
The net proceeds from the fresh issue will be used towards purchase of construction equipment(Rs 150 crore),funding of long term working capital requirement( Rs 350 crore), payment of certain outstanding borrowings(Rs 500 crore) and for general corporate purposes.
( Source : Deccan Chronicle )
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