Shapoorji Pallonji Group’s renowned infrastructure entity, Afcons Infrastructure Limited (AIL), has initiated its journey towards an initial public offering (IPO) by submitting its draft red herring prospectus (DRHP) to the Securities and Exchange Board of India (SEBI). The IPO, valued at INR 7,000 crore, encompasses a combination of fresh equity shares worth INR 1,250 crore and an offer for sale of up to INR 5,750 crore by Goswami Infratech Private Limited.
Marked by a reserved portion for eligible employees, this IPO is touted as the most significant infrastructure IPO in a decade. The company’s strategic roadmap includes the potential issuance of equity shares through pre-IPO placement, subject to market conditions and regulatory approvals.
Afcons Infrastructure boasts a distinguished legacy spanning over six decades, distinguished by its successful execution of multifaceted engineering, procurement, and construction (EPC) projects worldwide. Renowned for its prowess in marine and port facilities, bridges, transportation, and transmission lines, Afcons ranks prominently among global infrastructure giants, as affirmed by the 2023 ENR rankings.
The company’s robust financial performance underscores its market leadership, with a restated consolidated revenue of INR 12,637.38 crore in FY 2023, reflecting a 14.69% increase over the previous year. With an expanding order book and a CAGR of 7.6% in recent years, Afcons is poised for sustained growth amidst favorable industry dynamics.
