SP Group firm Afcons Infrastructure may raise Rs 7,000 crore via IPO
Proceeds worth Rs 150 crore from the issue will be used for capital expenditure, Rs 350 crore will be used to fund long-term working capital requirement
Source: moneycontrol.com
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Tatas Keeping a Close Eye On Pledged Shares
The Tata Trusts and Tata Sons are said to be closely monitoring the Shapoorji Pallonji (SP) Groups bid to raise ₹20,000 crore from state-run institutions to refinance debt taken against stakes in the Tata Group holding company.
Source: indiatimes.com
Tata Sons: Tatas keeping a close eye on pledged shares
"Indian lenders and their credit committees would need to evaluate whether their inability to transfer or sell the security in a default situation represents an acceptable risk," said one of the persons.
Source: indiatimes.com
IPO alert: Shapoorji Pallonji Group's Afcons Infrastructure files draft papers for Rs 7,000 cr issue
Afcons Infrastructure, the flagship infrastructure engineering and construction company of Shapoorji Pallonji group has filed its DRHP with market regulator Sebi to raise Rs 7,000 crore via IPO.
Source: businesstoday.in
Shapoorji Pallonji Group's Afcons Infrastructure files papers for Rs 7,000-crore IPO, ET EnergyWorld
Moreover, the company may consider raising up to Rs 250 crore in the "pre-IPO placement" round. If such placement is completed, the fresh issue size will be reduced.
Source: indiatimes.com