Shapoorji Pallonji Group's Afcons Infrastructure sets price band for its IPO. Check details
Afcons Infrastructure will open for subscription on October 25 and bidding for the issue can be done till October 29. Through the IPO, the Shapoorji Pallonji Group's infrastructure engineering and construction company plans to raise around Rs 5430 crore.
The company has fixed a price band of Rs 440-463 per share, where investors can bid for 32 shares in one lot.
The 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.
The offer size has been reduced following a pre-IPO fundraising. In the March draft papers, the company had initially planned to raise Rs 7,000 crore through the initial share sale.
Currently, promoter and promoter group entities own a 99% stake in Maharashtra-based Afcons Infrastructure.
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