Afcons Infra IPO: Set to Break Records with ₹8,400 Crore Offering in October - Read Now
Afcons Infrastructure, part of the Shapoorji Pallonji Group, is set to launch one of the largest IPOs of 2024, with an expected size of ₹8,400 crore, making it the biggest after LIC's 2022 IPO. The offering includes both fresh issues and an expanded offer for sale.
Sep 25, 2024, 11:00 IST
Afcons Infra IPO: The long wait for the mega IPO from the Shapoorji Pallonji Group is finally coming to an end, as Afcons Infrastructure Limited is gearing up to launch its much-anticipated Initial Public Offering (IPO). This mega IPO is expected to be the largest offering in the last two years, following the LIC IPO in May 2022.
Key Highlights:
- IPO Launch: The IPO is scheduled to open in the first week of October 2024, giving investors an exciting opportunity to bid.
- IPO Size: Initially planned for ₹7,000 crore, the IPO size is now expected to be raised to ₹8,400 crore, including pre-IPO allotments.
- Fresh Issue & OFS: Of the total, ₹1,250 crore will be through a fresh issue of shares, while the offer for sale (OFS) portion is expected to be around ₹7,150 crore, allowing promoter company Goswami Infratech to reduce its stake.
- Major Milestone: This will be the second IPO by the Shapoorji Pallonji Group, following Sterling and Wilson Solar’s listing in August 2019.
- Lead Managers: ICICI Securities, DAM Capital, Jefferies India, Nomura, Nuvama, and SBI Capital have been appointed as lead managers for this mega IPO.
With the Afcons Infrastructure IPO, Shapoorji Pallonji is expected to make a significant impact in the market, attracting both retail and institutional investors.
