Shapoorji Pallonji Group's Afcons Infra gets nod for ₹7,000-cr IPO

Afcons Infrastructure, the infrastructure unit of Shapoorji Pallonji Group, has received market regulator SEBI's nod for raising ₹7,000 crore through its maiden share issue. The IPO includes fresh issue of ₹1,250 crore and an offer for sale segment worth ₹5,750 crore by Goswami Infratech. The company's promoters currently hold 99.48% stake and the sale will mark the group's second IPO.