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Afcons Infrastructure Ltd is an infrastructure, engineering and operation institution of the Shapoorji Pallonji group. (File photo)
Afcons Infrastructure Ltd, the infrastructure, engineering and operation institution of the Shapoorji Pallonji group, has acceptable the terms set for its Rs 5,430 crore archetypal nationalist offering (IPO) astatine Rs 440-463 per equity share.
The IPO is simply a premix of caller contented of up to Rs 1,250 crore and an connection of merchantability up to Rs 4,180 crore.
The proceeds from its caller issuance volition beryllium utilized to the grade of Rs 80 crore for superior expenditure towards acquisition of operation equipment; Rs 320 crore for backing semipermanent moving superior requirements; Rs 600 crore for prepayment oregon scheduled repayment of a information of definite outstanding borrowings and acceptances availed by the company; and wide firm purposes.
The stock merchantability volition unfastened for subscription connected October 25 and adjacent connected October 29.
Last week, Afcons Infrastructure raised Rs 2,967 crore from the company’s management, idiosyncratic and organization investors successful a pre-IPO placement. Investors who participated successful the pre-IPO publication included GIC Singapore, Enam Holdings (Akash Bhanshali), Synergy Capital, 360 One, M&G Investments, Artian Investment from ArcelorMittal, Madhusudan Kela and White Oak.
The institution has delivered a wide scope of analyzable and challenging engineering, procurement, and operation (EPC) projects some domestically and internationally. Its bid publication stood astatine Rs 31,747.43 crore, arsenic of June 30, 2024.
The company’s gross from operations accrued from Rs 12,637.38 crore successful FY2023 to Rs 13,267.50 crore successful FY2024. Profit aft taxation grew Rs 449.74 crore successful fiscal 2024 from Rs 410.86 crore successful fiscal 2023.
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