Shapoorji Pallonji's Afcons Infrastructure Plans Rs 5,430-Crore IPO; Bidding Opens On This Date

Shapoorji Pallonji Group's infrastructure engineering and construction company Afcons Infrastructure Ltd (AIL) is gearing up to launch its Rs 5,430-crore initial public offering (IPO) on October 25.The initial share sale will conclude on October 29 and the bidding for anchor investors will open for a day on October 24, according to the red herring prospectus (RHP).

The company will announce the price band for the IPO next week. The infrastructure firm's Rs 5,430-crore IPO is a combination of a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech Private Limited.The company will announce the price band for the IPO next week. The infrastructure firm's Rs 5,430-crore IPO is a combination of a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech Private Limited.In terms of listed industry peers, Afcons compares itself with Larsen & Toubro Ltd (L&T), KEC International Limited (KEC), Kalpataru Project International Ltd (KPIL), and Dilip Buildcon Ltd( DBL).ICICI Securities Ltd, DAM Capital Advisors Ltd, Jefferies India Private Ltd, Nomura Financial Advisory and Securities (India) Private Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd are the book-running lead managers to the issue.