Shapoorji Pallonji Group company Afcons Infra can launch ipo worth 7000 crore

Afcons Infra IPO: Real estate sector giant Shapoorji Pallonji Group is also going to enter the IPO market soon. Group company Afcons Infra can enter the market with a big IPO of Rs 7000 crore. There will be fresh shares worth Rs 1200 crore in this issue of Afcons. Also, Shapoorji Pallonji Group can get Rs 5750 crore through offer for sale.

Will sell stake in Afcons Infra

According to the report of CNBC TV 18, Shapoorji Pallonji Group will earn approximately Rs 5750 crore by selling its stake in Afcons Infrastructure IPO. The group holds 99.48 percent stake in the company. Due to this IPO, the market value of Afcons Infra can be around Rs 20 thousand crores. This company takes big infrastructure contracts not only in the country but also abroad. The company has efficiently completed many big projects including viaduct, flyover, metro, bridge, pipeline, highway, port, barrage, oil and gas.

Recently two ports were sold

Shapoorji Pallonji Group has recently sold two ports. One of these, Dharmatar Port of Maharashtra was sold to JSW Infrastructure for Rs 700 crore. Its company was acquired in 2015. Its annual capacity is 5 million tonnes. Apart from this, Gopalpur Port of Odisha has been sold to Adani Port and SEZ for approximately Rs 3350 crore. The company had said that it wants to exit the port business and focus on real estate and infra projects. He will use the money received from the port sale to further strengthen his core business by reducing debt.

Counted among the oldest business groups of the country

Shapoorji Pallonji Group is counted among the oldest business groups in the country. It was established in the year 1865. The business of this group is spread across engineering and construction, infrastructure, real estate, water, energy and financial services sectors.

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