Afcons Infrastructure Ltd. (AIL) of the Shapoorji Pallonji Group has filed a draft red herring prospectus (DRHP) with market regulator Securities and Exchange Board of India (SEBI) to raise funds through an initial public offering (IPO).
The IPO, with a face value of ₹10 per equity share, is a mix of fresh issue of shares worth ₹1,250 crore and an offer for sale of up to ₹5,750 crore by Goswami Infratech Private Ltd., as per the filing.
The company, in consultation with the book-running lead managers, may consider undertaking a further issue of equity shares through a preferential issue or any other method for a cash consideration aggregating up to ₹250 crore as a pre-IPO placement.. If such placement is completed, the fresh issue size will be reduced.
The offer will be made through the book-building process.
Afcons, an Indian conglomerate, has been into operations for over six decades.
Published - March 29, 2024 09:26 pm IST
