The IPO of Afcons Infrastructure, a company under the Shapoorji Pallonji Group, is on the way. The company has filed its Red Herring Prospectus (RHP). The IPO is expected to be worth ₹5,430 crore.
According to Money Control, the IPO will open for public subscription on October 25 and will remain open until October 29. For anchor investors, the IPO will open a day earlier, on October 24.
The company plans to announce the price band for the shares next week. This IPO will be listed on both the BSE and NSE.
Details of the IPO
Afcons Infrastructure’s IPO will consist of a fresh issue of shares worth ₹1,250 crore. Additionally, shares worth ₹4,180 crore will be offered for sale.
The shares for sale will come from the company’s promoter, Goswami Infratech. It’s important to note that Goswami Infratech, along with Shapoorji Pallonji
and Company, Floreat Investments, Hermes Commerce, and Renaissance Commerce, holds 99% of the company.
Company’s Financial Performance
In the financial year 2024, Afcons Infrastructure reported a net profit of ₹449.70 crore, which is a 9.5% increase from the previous year.
The company’s revenue for the same period was ₹13,267.50 crore. In the June quarter of the current financial year, the company recorded a net profit of ₹91.60 crore and revenue of ₹3,154.40 crore.
Recent Shareholding Changes
Last week, the company’s promoter, Goswami Infratech, transferred 6.25 crore shares to several domestic and global investors.
Notable investors include Discovery Global Opportunity from Mauritius, Volrado Venture Partners Fund,
and Blue Lotus Investment Fund. As a result of this transfer, Goswami Infratech’s ownership has decreased from 71.87% to 53.52% following the filing of the RHP.