Shapoorji co Afcons plans Rs 7,000 crore IPO

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Key Points

The company, which the construction-to real-estate group acquired from ICICI Bank in the early 2000s, hopes to raise Rs 7,000 crore from the share sale...

This will be the second company from the group to tap the primary market after..

SP will garner Rs 5,750 crore by selling a part of its stake in the Afcons IPO, while the infrastructure construction company will raise Rs 1,250 crore by issuing fresh shares to investors...

The company, in its IPO documents filed with markets regulator Sebi, said Goswami Infratech, which owns about 72%, will only participate in the IPO and none of the other promoters, Shapoorji Pallonji and Company (which owns about 17%), Floreat Investments (8%), Hermes Commerce (1.19%) and Renaissance Commerce (1.18%) will sell any shares to investors...

It further said 97% of the company's equity (representing 33.1 crore shares) is pledged with lenders..

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