Shapoorji Pallonji Group’s infrastructure engineering and construction company Afcons Infrastructure Ltd (AIL) is gearing up to launch its Rs 5,430-crore initial public offering (IPO) on October 25.
The initial share sale will conclude on October 29 and the bidding for anchor investors will open for a day on October 24, according to the red herring prospectus (RHP).
The company will announce the price band for the IPO next week. The infrastructure firm’s Rs 5,430-crore IPO is a combination of a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech Private Limited.
The offer size has been reduced following a pre-IPO fundraising. In the March draft papers, the company had initially planned to raise Rs 7,000 crore through the initial share sale.
Currently, promoter and promoter group entities own a 99 per cent stake in Maharashtra-based Afcons Infrastructure. The company will utilise Rs 80 crore from the fresh issu
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