Comments
Afcons Infrastructure, the flagship of the Shapoorji Pallonji group, has made pre-IPO placement of shares to the tune of ₹2,967 crore and reduced the size of its IPO, which now stands at ₹5,430 crore, compared to ₹7,000 crore earlier.
While the fresh issue portion remains the same at ₹1,250 crore, the offer for sale has been lowered to ₹4,180 crore.
The pre-IPO placement has been made to investors such as Singapore’s GIC (₹756 crore), Akash Bhansali of Enam Holdings (₹400 crore), Synergy Capital (₹400 crore) and 11 others.
Last month, company officials indicated that there was significant institutional interest in the company’s shares. There could be a rise in the OFS portion, or it could be done through a pre-IPO placement.
The company will be announcing the price band for the IPO next week.
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.