Afcons Infrastructure may opt for Rs 4,000 crore pre-IPO placement

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Afcons Infrastructure may opt for Rs 4,000 crore pre-IPO placement - Business Standard

Quick Summary:

This move will bring on board esteemed investors, enhancing credibility and potentially scaling down the IPO size ahead of its planned October launch.

Afcons’ IPO comprises a fresh fundraise of Rs 1,250 crore, which it plans to use to repay debt, purchase construction equipment, and meet its working capital requirements.

Notably, this IPO will coincide with several other major listings, including those of Hyundai India, Swiggy, and NTPC Green Energy."The pre-IPO placement is almost finalised.