Afcons Infra to launch Rs 54.30 billion IPO on October 25

22 Oct 2024 CW Team

Afcons Infrastructure Ltd (AIL), the infrastructure engineering and construction arm of the Shapoorji Pallonji Group, is set to launch its Rs 54.30 billion initial public offering (IPO) on October 25. The IPO will remain open until October 29, with bidding for anchor investors starting on October 24, as outlined in the company’s red herring prospectus (RHP).

The IPO will consist of a fresh share issue worth Rs 12.5 billion, along with an offer for sale (OFS) of up to Rs 41.8 billion by the promoter entity, Goswami Infratech Private Limited. Afcons plans to reveal the IPO's price band next week.

The offer size has been revised from the initial target of Rs 70 billion mentioned in the March draft prospectus, following a successful pre-IPO fundraising round.

Currently, Afcons Infrastructure, based in Maharashtra, is predominantly owned by its promoters, who hold a 99% stake. Proceeds from the fresh issue will be allocated as follows: Rs 800 million for purchasing construction equipment, Rs 3.2 billion for long-term working capital needs, Rs 6 billion for debt repayment, and the remainder for general corporate purposes.

(ET)

Infrastructure Transport

13 Oct 2025

Tata, Airbus to Build India’s First Private Helicopter Line

In a landmark development for India’s aerospace sector, Tata Advanced Systems Limited (TASL) and Airbus will establish the country’s first private-sector helicopter assembly line in Vemagal, Karnataka. The facility will manufacture the Airbus H125 and H125M, marking a significant milestone in India’s push for self-reliance in aviation and defence manufacturing. The new Final Assembly Line (FAL) will produce the H125, the world’s best-selling single-engine helicopter, known for its versatility and performance in extreme environments. The first ‘Made in India’ H125 is expected to ro..

NeGD to Support Bharat Taxi in Building Cooperative Ride Platform

In a significant move for India’s digital and mobility transformation, the National e-Governance Division (NeGD) of the Digital India Corporation, under the Ministry of Electronics and Information Technology (MeitY), has entered into an advisory partnership with Sahakar Taxi Cooperative Limited, the company behind Bharat Taxi — a first-of-its-kind, cooperative-led national ride-hailing platform. A Memorandum of Understanding (MoU) has been signed between NeGD and Sahakar Taxi to provide strategic advisory and technical support covering key areas such as platform integration, cybersecurity..

MeitY Hosts Pre-Summit for India–AI Impact Summit 2026

The Ministry of Electronics and Information Technology (MeitY), Government of India, hosted a series of Pre-Summit events for the upcoming India–AI Impact Summit 2026 at the India Mobile Congress (IMC) 2025 in New Delhi. These sessions mark a key milestone ahead of the main summit, scheduled for 19–20 February 2026 at Bharat Mandapam, New Delhi. Delivering the inaugural address, S. Krishnan, Secretary, MeitY, highlighted India’s innovative and frugal approach to AI development. “We have adopted innovative means by learning from others’ experiences to build projects and products that..