According to the draft papers, the planned Rs 7,000 crore initial public offering (IPO) of Afcons Infrastructure Ltd consists of an offer for sale (OFS) by promoter Goswami Infratech Pvt Ltd for up to Rs 5,750 crore and a new issue of shares valued at Rs 1,250 crore.
SEBI Greenlights IPOs for Afcons Infrastructure
Sebi has given the green light to five firms to raise money through initial public offerings (IPOs), including Afcons Infrastructure Ltd (AIL), the main infrastructure engineering and construction company of the Shapoorji Pallonji group. This information was revealed in an update filed with the regulator on Monday.
Godavari Biorefineries, Shivalik Engineering Industries Ltd., Quadrant Future Tek, and Enviro Infra Engineers are among the other companies that have received Sebi approval.
SEBI Greenlights IPOs for Afcons Infrastructure, These five companies had submitted their first public offering (IPO) paperwork to SEBI. The update indicated that they gathered their observations from September 5–13 between March and June.
To use market language, getting an observation letter from Sebi indicates that the public issue can now be floated.
Goswami Infratech Pvt Ltd; SEBI Greenlights IPOs for Afcons Infrastructure
According to the draft papers, the planned Rs 7,000 crore initial public offering (IPO) of Afcons Infrastructure Ltd consists of an offer for sale (OFS) by promoter Goswami Infratech Pvt Ltd for up to Rs 5,750 crore and a new issue of shares valued at Rs 1,250 crore.
Afcons Infrastructure is a Maharashtra-based company that is currently owned 99.48 percent by promoter and promoter group entities.
The first 150 crore of the fresh issue’s proceeds will go toward capital expenditures like buying construction equipment, 350 crore will go toward long-term working capital needs, and 500 crore for general corporate operations and the prepayment or planned repayment of a portion of the company’s outstanding borrowings and acceptances.
According to the draft red herring prospectus (DRHP), promoters and an investor would combine a fresh issue of equity shares valued at Rs 325 crore with an Offer-for-Sale (OFS) of 65.27 lakh equity shares to make up Godavari Biorefineries Ltd, a maker of ethanol and bio-based chemicals. (SEBI Greenlights IPOs for Afcons Infrastructure)
Mandala Capital AG Ltd, a private equity firm, is selling 49.27 lakh shares via the OFS.
The IPO of precision engineering company Shivalik Engineering Industries Ltd consists of an offer by founders and other shareholders to sell up to 41.3 lakh equity shares, in addition to a fresh issue of shares valued at Rs 335 crore the preliminary documents.
The goal of Quadrant Future Tek’s IPO, which would comprise of a wholly new issuance, is to raise Rs 275 crore. The company submitted draft documents to Sebi in June.
According to the draft documents, Enviro Infra Engineers’ initial public offering (IPO) consists of a fresh issue of 4.42 crore equity shares and an OFS component of 52.68 lakh shares by founders. The company develops turnkey projects for sewage treatment facilities and sewerage systems.
However, the regulator has responded through draft documents from the IT infrastructure solutions provider Armee Infotech, situated in Ahmedabad. Early in July, the regulator received its draft papers.
The planned IPO by the company amounted to a total new issue of equity shares valued at Rs 250 crore without a component of an offer to buy. (SEBI Greenlights IPOs for Afcons Infrastructure)
Account opning link:
- Groww Account- https://app.groww.in/v3cO/kyrp1zph
- Kotak neo Account https://kotaksecurities.ref-r.com/c/i/32531/109103906
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