Afcons Infrastructure Ltd, the infrastructure, engineering and building firm of the Shapoorji Pallonji group, has set the worth band for its Rs 5,430 crore preliminary public providing (IPO) at Rs 440-463 per fairness share.
The IPO is a mixture of contemporary situation of as much as Rs 1,250 crore and a suggestion of sale as much as Rs 4,180 crore.
The proceeds from its contemporary issuance can be utilized to the extent of Rs 80 crore for capital expenditure in direction of buy of building gear; Rs 320 crore for funding long-term working capital necessities; Rs 600 crore for prepayment or scheduled compensation of a portion of sure excellent borrowings and acceptances availed by the corporate; and normal company functions.
The share sale will open for subscription on October 25 and shut on October 29.
Final week, Afcons Infrastructure raised Rs 2,967 crore from the corporate’s administration, particular person and institutional traders in a pre-IPO placement. Buyers who participated within the pre-IPO guide included GIC Singapore, Enam Holdings (Akash Bhanshali), Synergy Capital, 360 One, M&G Investments, Artian Funding from ArcelorMittal, Madhusudan Kela and White Oak.
The corporate has delivered a variety of complicated and difficult engineering, procurement, and building (EPC) initiatives each domestically and internationally. Its order guide stood at Rs 31,747.43 crore, as of June 30, 2024.
The corporate’s income from operations elevated from Rs 12,637.38 crore in FY2023 to Rs 13,267.50 crore in FY2024. Revenue after tax grew Rs 449.74 crore in fiscal 2024 from Rs 410.86 crore in fiscal 2023.
