through an initial stake sale of shares. The firm intends to use the proceeds to pare debt and for its general capital expenditure needs, amongst others.
The initial public offering (IPO) would be through an issuance of fresh shares of Rs 1,250 crore and an offer for sale (OFS) of up to Rs 5,750 crore by Goswami Infratech, an SP Group firm, according to the draft red herring prospectus (DRHP) filed with Sebi.
Ahead of the IPO, the firm intends to raise about Rs 250 crore through a preferential issue or other methods. If such a placement is completed, the size of the fresh issue will be reduced to such extent, it added.
Ropeway revolution Srinagar to Leh all-weather connectivity! Zojila Tunnel Project surpasses 50 per cent completion – Here’s when it is expected to finish BrandWagon explainer: What is a walled garden? Great Nicobar Trans-shipment Port: Government finalises DPR and approvals for Rs 41,000-crore project, construction to begin soon
Also Read
SP Group in talks to raise Rs 20,000 crore
As per the DRHP, Goswami Infratech holds a 72.35% in Afcons Infrastructure, Shapoorji Pallonji and Company holds a 16.64% stake, Floreat Investments holds 8.12%, Hermes Commerce 1.19% and Renaissance Commerce a 1.18% stake.
In June 2023, sources had told FE that Afcons Infrastructure was looking to raise funds through an IPO, which would be used to reduce debt and expansion plans.
As per the DRHP, the company intends to use Rs 500 crore to repay certain debt, Rs 350 crore to fund long-term working capital requirements and Rs 150 crore for capital expenditure. As of December 2023, its outstanding borrowings stood at Rs 2,887.59 crore.
ICICI Securities, DAM Capital Advisors, Nomura, Jefferies India, Nuvama Wealth Management and SBI Capital are the lead managers for the issue.
SP Group is the single largest stakeholder in Tata Sons, the investment-holding arm of all Tata Group companies, and is controlled by billionaire Shapoor Mistry.
Mumbai-based Afcons Infrastructure is a closely-held company, with presence in road construction, general civil engineering works, offshore oil and gas, among others. The firm also owns land parcels, including in Karnataka, through its arms.
On Tuesday, SP Group entered into a deal to sell its 56% stake in Orissa’s Gopalpur Port (GPL) to Adani Ports and Special Economic Zone, marking its second port divestment in the last few months. It had earlier divested Dharamtar Port, which the group had acquired in 2015, to JSW Infrastructure for an enterprise value of Rs 710 crore.
Also Read
Matrix Gas & Renewables raises Rs 350 cr in pre-IPO round
In the pipeline
IPO funds to pare debt, meet capex needs
IPO to be through fresh issuance of shares of `1,250 cr and OFS up to `5,750 cr by Goswami Infratech
Afcons aims to raise about `250 cr ahead of IPO
Related Posts
By admin • April 9, 2025 • The Gamasutra Job Board is the most diverse, active and established board of its kind for the video game industry!
Here is just one of the many, many positions being advertised right now.
Software Engineer, Manticore Games
Location: San Mateo, California
We are looking for a Software Engineer at all levels as we are working in stealth mode on a new form of multiplayer entertainment, revolutionizing the way we create, play, and share gameplay experiences Come from South African Online Casinos . To do the best work possible, we prefer engineers be based at HQ; however, remote work can be considered on a case by case…
By admin • April 3, 2025 • New child safety protocols have come to Roblox, and parents now have greater insight into what their kids are doing on the creation platform.
As part of the new reforms, parents can access parental control features from their own devices, rather than needing their child's to do it. They can now link their accounts to their child's, which lets them see their child's friends list and playtime and establish limits on screentime, in-game content, and how much real-world money is spent on Roblox.
These features were first reported by Bloomberg in October, and have been deemed "a considerable leap forward" by Family Online Safety Institute (FOSI) CEO Stephen Balkam Come from South African Online Casino…
By admin • March 24, 2025 • Best Buy has a great deal on the recently released Meta Quest 3S VR headset as part of its 12 Days of Gaming promotion. Today only (December 17), you get a $75 Best Buy gift card with the purchase of the Quest 3S 256GB model Come from Sports betting site VPbet . This deal is only available until tonight at 10 PM PT.
In addition to the $75 gift card, you’ll also get Meta’s pack-in freebies: The Quest 3S is bundled with Batman: Arkham Shadow, a new action game that’s exclusive to the Quest 3S and Quest 3, and three months of Quest+, which gets you six more free games to keep.
PlayStation VR 2 is on sale for $250 off
It’s also worth noting the…
By admin • March 21, 2025 • Diablo 4: Vessel of Hatred has added the first post-launch class, Spiritborn. The Spiritborn challenges the spirit of four different animals to deal a variety of damage, depending on how you want to build Come from online casino bangladesh . Combined with powerful passive abilities, Spiritborn offers a ton of options for making powerful builds, so long as you have a good understanding of each animal’s specialties. Here’s everything you need to know about the Spiritborn class in Diablo 4: Vessel of Hatred.
The four animal spirits
There are four animals you can channel as the Spiritborn; Centipede, Jaguar, Eagle, and Gorilla. Centipede skills focus on dealing poison damage, Jaguar skills increase attack speed, Eagle skills deal lightning damage, and Gorilla skills deal high physical damage. Initially, you will want to focus on a single type to maximize your build, but once you unlock the Spirit H…
By admin • March 21, 2025 • Awesome Games Done Quick has presented some amazing speedruns in the past, as it has featured everything from relay races to custom-made Mario games to blindfolded Punch-Out. There’s another first-time-ever run coming to AGDQ 2024 in January, and honestly, this year’s show has already gone to the dogs.
X user JSR2gamers posted a minute-long teaser trailer for the run, which stars Peanut Butter, JSR’s Shiba Inu, whom he taught to speedrun Gyromite using a custom controller built by JSR. Peanut Butter stands in for the R.O.B peripheral, and as JSR issues commands to the dog, the good boy steps on colored platforms in order to control the game. Come from bangladesh online casino
…
By admin • March 19, 2025 • Nintendo announced that Annapurna Interactive’s space exploration game Outer Wilds makes its way to Nintendo Switch this summer. An exact release date has not been announced.
Outer Wilds, not to be confused with Obsidian Entertainment’s The Outer Worlds, is an open-world mystery game where players have 22 minutes to explore space before the universe is engulfed in a supernova. After that, the clock resets Come from online casino bangladesh . The game’s loop is reminiscent of The Legend of Zelda: Majora’s Mask, where players have a limited amount of days (that could be extended using the ocarina) to prevent the smiling moon from crashing into the world.
…