return to news
  1. Upstox
    /
  2. News
    /
  3. Market News
    /
  4. IPO
    /
  5. Upcoming IPOs: Afcons Infrastructure among 5 companies to get SEBI's nod to launch IPOs; check list

Market News

Upcoming IPOs: Afcons Infrastructure among 5 companies to get SEBI's nod to launch IPOs; check list

Upstox
By Upstox News Desk

2 min read | Updated on September 17, 2024, 08:56 IST

Twitter Page
Linkedin Page
Whatsapp Page

SUMMARY

Shapoorji Pallonji group's firm Afcons Infrastructure and four others, which filed their preliminary IPO papers with SEBI between March and June, obtained their observations from September 5 to 13. In market parlance, receiving an observation letter from SEBI means its nod to float the initial public offerings.

shutterstock1770419411-1.webp

Afcons Infrastructure Ltd, Godavari Biorefineries, Shivalik Engineering Industries, Quadrant Future Tek and Enviro Infra Engineers have received SEBI's go-ahead to raise funds through IPOs.

Afcons Infrastructure Ltd, the infrastructure engineering and construction arm of Shapoorji Pallonji group, and four other companies have received approval from the market regulator, the Securities and Exchange Board of India (SEBI), to raise funds via IPOs.

Other companies that have received SEBI's observations are Shivalik Engineering Industries Ltd, Godavari Biorefineries, Enviro Infra Engineers, and Quadrant Future Tek.

In market parlance, receiving an observation letter from SEBI means its nod to float the initial public offerings.

Afcons Infrastructure IPO

According to the IPO draft papers, Afcons Infrastructure's ₹7,000-crore proposed IPO consists of a fresh issuance of shares worth ₹1,250 crore and an offer for sale (OFS) component of ₹5,750 crore by a promoter Goswami Infratech Private Ltd.

The fresh issue proceeds will be used for capital expenditures, long-term working capital requirements, debt repayment, and general corporate purposes.

Also Read: Softbank-backed Swiggy to file IPO draft papers this week to raise $1 billion: Report

Godavari Biorefineries IPO

The proposed IPO of ethanol and bio-based chemicals manufacturer Godavari Biorefineries is a mix of fresh issue of shares worth ₹325 crore and an OFS of 65.27 lakh shares by promoters and an investor, according to the draft red herring prospectus (DRHP).

Under the OFS, private equity company Mandala Capital AG Ltd is divesting 49.27 lakh equity shares.

Shivalik Engineering Industries IPO

Precision engineering firm Shivalik Engineering Industries's IPO is a combination of a fresh issue of ₹335 crore and an OFS of 41.3 lakh shares by promoters and other shareholders.

Catch PN Gadgil Jewellers IPO Listing Live Updates, HERE.

Quadrant Future Tek IPO

Quadrant Future Tek intends to raise ₹275 crore via IPO, which is a fresh issue.

Enviro Infra Engineers IPO

The initial share sale of Enviro Infra Engineers, which is involved in the development of turnkey projects of sewage treatment plants and sewerage system, consists of a fresh issue of 4.42 crore shares and an OFS of 52.68 lakh shares by promoters, according to DRHP.

With PTI inputs
To learn more about IPO listings, schedules, and upcoming IPOs, click here.
Uplearn

About The Author

Upstox
Upstox News Desk is a team of journalists who passionately cover stock markets, economy, commodities, latest business trends, and personal finance.

Next Story