Company is bringing bumper IPO
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Afcons Infrastructure Ltd IPO: IPOs of many best companies are going to come in the Indian stock market in the coming days. Seeing the enthusiasm of investors, companies are adopting IPO approach for capital. Now it is being told that Afcons Infrastructure Limited, the major infra engineering and construction company of Shapoorji Pallonji Group.AIL) is going to launch Initial Public Offer (IPO). The company is trying to raise Rs 7,000 crore from the market through IPO. For this, the company has submitted documents to the capital market regulator SEBI. The company is trying to collect Rs 250 crore pre-IPO. This will reduce the size of the IPO.
Fresh shares will be worth Rs 1,250 crore
According to preliminary documents (DRHP), the company will issue fresh shares worth Rs 1,250 crore in the IPO and an offer for sale (OFS) worth Rs 5,750 crore will be made by promoter Goswami Infratech Pvt Ltd. Apart from this, shares will also be reserved for eligible employees. Currently, the promoter and promoter group entities hold 99.48 per cent stake in Maharashtra-based Afcons Infrastructure. Apart from this, the company may consider raising up to Rs 250 crore in the pre-IPO planning round. If this happens, the size of the new issue will be reduced.
Also Read: This jewelers company will try to raise Rs 1100 crore from the market, filed papers with SEBI
what does the company do
Afcons is a big company in the engineering and infra sector. The company is involved in projects in marine and industrial, including ports, LNG tanks and material handling systems. Apart from this, work is also being done on projects related to surface transportation, including highways, interchanges, mining infrastructure and railways. The company is working in the field of urban infrastructure, metro works, bridges, flyovers, elevated corridors, hydropower, dam construction, tunnels, oil and gas and onshore projects.
How many projects does the company have?
Afcons has a history of completing projects ahead of schedule. It has completed projects like Jammu Udhampur Highway Project, Nagpur Metro Reach 3 and Agra Lucknow Expressway on time. As of September 30, 2023, Afcons had 67 active projects in 13 countries.
,Disclaimer: Investing in stock market or IPO is subject to market risk. Before investing in any share, get complete information from a good financial advisor. We are not encouraging investment in any company.,
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