Team Blitz India
NEW DELHI: Shapoorji Pallonji Group company Afcons Infrastructure is likely to raise Rs 7,000 crore through an IPO, suggested CNBC-TV18 news reports.
The Initial public offer by Afcons Infrastructure may include fresh issue of shares as well as an offer for sale component.
As per CNBC-TV18 news report quoting sources, the Shapoorji Pallonji Group may receive Rs 5,750 crore by selling a portion of its holdings in Afcons Infrastructure through an offer for sale, while Afcons is anticipated to gain Rs 1,200 crore through the issue of new shares.
Afcons Infrastructure Limited, the Mumbai based Shapoorji Pallonji Group company, that offers infrastructure services undertakes projects in India as well as in the international arena. The company works on building viaducts, flyovers, metros, bridges, pipelines, highways, ports, barrages, oil and gas projects, and other infrastructure projects.
