The wait for the mega IPO of Shapoorji Pallonji Group is going to end soon. The much-awaited IPO of the group’s company Afcons Infrastructure Limited is going to open in the beginning of October. This IPO is going to be the biggest IPO of the last 2 years.
The issue will open in the first week of October
In a report by ET, citing sources, it has been told that the IPO of the infrastructure company of Shapoorji Pallonji Group is going to open in the first week of October. That is, next week investors are going to get a chance to bid in the Afcons Infrastructure IPO. The IPO of the flagship company of the Shapoorji Pallonji Group is going to be counted among the biggest IPOs till date.
Now the IPO can be this big
According to the report, Shapoorji Pallonji Group plans to increase the size of Afcons Infrastructure’s IPO. Earlier the size of this IPO was going to be around Rs 7 thousand crore. Now it is being said that the size of the IPO will be Rs 8,400 crore, which also includes pre-IPO allotment. If this report proves to be true, then this will be the largest IPO after the LIC IPO that came in May 2022. The government insurance company came up with an IPO of Rs 21,008 crore in May 2022, which is the largest IPO in the Indian stock market so far.
The share of offer for sale is going to increase
The proposed IPO may have a fresh issue of shares worth Rs 1,250 crore. Apart from that, it was earlier told that there will be an offer for sale of up to Rs 5,750 crore in the IPO. Promoter company Goswami Infratech will reduce its stake through the offer for sale. Now it is being said that the share of offer for sale in the IPO can be Rs 7,150 crore.
Shapoorji Pallonji Group’s second IPO
Afcons Infrastructure is going to be the second company of Shapoorji Pallonji Group, whose IPO will come in the market. Earlier, the IPO of the group’s solar power engineering and EPC company Sterling & Wilson Solar came in August 2019. ICICI Securities, DAM Capital, Jefferies India, Nomura, Nuwama and SBI Capital have been made lead managers for this proposed IPO of Shapoorji Pallonji Group.
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