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Afcons Infrastructure Files DRHP for IPO, Eyes Record Funds

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Afcons Infrastructure Files DRHP for IPO, Eyes Record Funds

The Shapoorji Pallonji group’s flagship infrastructure engineering and construction business, Afcons Infrastructure Limited (AIL), has filed its draft red herring prospectus (DRHP) for an initial public offering (IPO) with the Securities and Exchange Board of India (SEBI). The ₹6,000 crore IPO is the largest infra IPO in a decade, consisting of a new issue of shares valued at ₹1,250 crore and an offer by Goswami Infratech Private Limited to sell shares for up to ₹5,750 crore. Furthermore, a pre-IPO placement of up to ₹250 crore is allowed.

Afcons is one of the world’s leading multinational contractors, operating in five major infrastructure verticals and maintaining a strong global presence. As of September 30, 2023, Afcons is currently participating in 67 projects throughout 13 countries. The company has a history of finishing projects ahead of schedule, and its significant projects include the Jammu Udhampur Highway Project and Nagpur Metro Reach 3.

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