The share sale will open for subscription on October 25 and close on October 29.
Kolkata : Afcons Infrastructure Ltd, a key player in infrastructure, engineering, and construction from the Shapoorji Pallonji group, has set the price range for its upcoming Rs 5,430 crore initial public offering (IPO) at Rs 440-463 per equity share.
The IPO consists of a fresh issue worth Rs 1,250 crore and an offer for sale amounting to Rs 4,180 crore. Of the fresh proceeds, Rs 80 crore will go towards purchasing construction equipment, Rs 320 crore for long-term working capital needs, Rs 600 crore for repaying part of the company's outstanding borrowings, and the remainder for general corporate purposes.
The IPO will be open for subscription from October 25 to October 29.
In a pre-IPO placement last week, Afcons raised Rs 2,967 crore from individual, institutional, and management investors, including GIC Singapore, Enam Holdings, Synergy Capital, 360 One, M&G Investments, Artian Investment from ArcelorMittal, Madhusudan Kela, and White Oak.
Afcons has a strong track record of executing complex engineering, procurement, and construction (EPC) projects both in India and abroad. As of June 30, 2024, its order book stood at Rs 31,747.43 crore.
The company’s operational revenue grew from Rs 12,637.38 crore in FY2023 to Rs 13,267.50 crore in FY2024, with its profit after tax increasing to Rs 449.74 crore from Rs 410.86 crore during the same period.
Kolkata : Afcons Infrastructure Ltd, a key player in infrastructure, engineering, and construction from the Shapoorji Pallonji group, has set the price range for its upcoming Rs 5,430 crore initial public offering (IPO) at Rs 440-463 per equity share.
The IPO consists of a fresh issue worth Rs 1,250 crore and an offer for sale amounting to Rs 4,180 crore. Of the fresh proceeds, Rs 80 crore will go towards purchasing construction equipment, Rs 320 crore for long-term working capital needs, Rs 600 crore for repaying part of the company's outstanding borrowings, and the remainder for general corporate purposes.
The IPO will be open for subscription from October 25 to October 29.
In a pre-IPO placement last week, Afcons raised Rs 2,967 crore from individual, institutional, and management investors, including GIC Singapore, Enam Holdings, Synergy Capital, 360 One, M&G Investments, Artian Investment from ArcelorMittal, Madhusudan Kela, and White Oak.
Afcons has a strong track record of executing complex engineering, procurement, and construction (EPC) projects both in India and abroad. As of June 30, 2024, its order book stood at Rs 31,747.43 crore.
The company’s operational revenue grew from Rs 12,637.38 crore in FY2023 to Rs 13,267.50 crore in FY2024, with its profit after tax increasing to Rs 449.74 crore from Rs 410.86 crore during the same period.
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