Afcons Infrastructure Sets IPO Price Band: Key Details Unveiled
Afcons Infrastructure Ltd announced its IPO price band of Rs 440-463 per share, aiming to raise Rs 5,430 crore. The IPO encompasses a fresh issue of Rs 1,250 crore and an offer of sale totaling Rs 4,180 crore. Proceeds will support capital expenditure, working capital, and debt repayment.
- Country:
- India
Afcons Infrastructure Ltd, a company under Shapoorji Pallonji Group, has determined a price band of Rs 440-463 per share for its Initial Public Offering (IPO). Opening for subscription on October 25, the IPO seeks to accumulate Rs 5,430 crore.
Comprising a fresh issue worth Rs 1,250 crore and an offer of sale (OFS) up to Rs 4,180 crore, the IPO involves shares being sold by the promoter company, Goswami Infratech. The subscription window closes on October 29, with investors required to bid for at least 32 equity shares, in multiples of 32 thereafter.
Funds from the fresh issuance will finance capital expenditures, fulfill long-term working capital needs, and alleviate part of Afcons' existing debt. Prominent investors participating include GIC Singapore and Enam Holdings. Afcons operates across multiple infrastructure sectors, currently managing 79 projects across 17 countries with an order book valued at Rs 31,747 crore.
(With inputs from agencies.)
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