Key Points
Shapoorji Pallonji Groups flagship infrastructure engineering and Construction firm, Afcons Infrastructure Limited (AIL), has filed its draft red herring prospectus (DRHP) with the market regulator, Securities and Exchange Board of India (SEBI), to raise funds through an initial public offering (IPO)...
According to the draft papers, the IPO, with a face value of Rs 10 per equity share, is a mix of fresh issue of shares of Rs 1,250 crore and an offer for sale of up to Rs 5,750 crore by Goswami Infratech Private Limited...
Afcons ranks among the top international contractors globally in marine and port facilities, bridges, transportation, and transmission line segments based on international revenue for the financial year 2023, according to the Fitch Report...
Afcons restated consolidated revenue from operations during the fiscal year 2023 increased 14.69% to Rs 12,637.38 crore from Rs 11,018.97 crore in the previous year, primarily due to an increase in construction contract revenue, driven by an increase in business in its Urban Infrastructure and Hydro and Underground business verticals, both in India and overseas..
Further, Fitch estimates Indias infrastructure industry to grow at a compounded annual growth rate of 9.9% from Rs 8.56 trillion in the Financial Year 2023 to Rs 13.72 trillion in the Financial Year 2028...
