Afcons Infrastructure sets IPO price at Rs 440-463 per share

22 Oct 2024 CW Team

Afcons Infrastructure Ltd, a Shapoorji Pallonji Group company, has announced a price band of Rs 440-463 per share for its Rs 54.3 billion Initial Public Offering (IPO). The IPO will open for subscription on October 25 and close on October 29.

The offering includes a fresh issue of shares worth up to Rs 12.5 billion, along with an offer for sale of shares worth Rs 41.8 billion. Investors can bid for a minimum of 32 shares and in multiples of 32 thereafter.

The company stated that Rs 800 million from the fresh issue will go towards capital expenditure for purchasing construction equipment, Rs 3.2 billion will be allocated to fund long-term working capital needs, and Rs 6 billion will be used for prepayment or repayment of outstanding loans.

Several prominent investors, including GIC Singapore, Enam Holdings (Akash Bhanshali), Synergy Capital, 360 One, M&G Investments, Think Investments, Discovery Capital Management, Artian Investment (ArcelorMittal), Madhusudan Kela, and White Oak, participated in the company’s pre-IPO round.

Afcons Infrastructure operates across five key verticals: marine and industrial projects, surface transport, urban infrastructure, hydro and underground works, and oil and gas infrastructure. (ET)

Infrastructure Urban

04 May 2026

Jyoti Structures FY26 profit rises 56.5%

Jyoti Structures (JSL) recently reported strong financial results for the quarter and year ended 31 March 2026, driven by disciplined execution, cost management and steady progress across its order book.For Q4 FY2025-26, total income rose 44.2 per cent to Rs 2.41 billion from Rs 1.67 billion in Q4 FY2024-25. EBITDA increased 58.6 per cent to Rs 237 million, while EBITDA margin improved by 89 basis points to 9.84 per cent. Profit before tax grew 53.3 per cent to Rs 188.5 million, and net profit rose 51.9 per cent to Rs 181.4 million.For FY2025-26, total income grew 53.1 per cent to Rs 7.72 bill..

Cat BEPU to Power Doppstadt Separator at IFAT 2026

Caterpillar’s Cat Battery Electric Power Unit (BEPU) has been selected by Doppstadt to power its SWS 6 Spiral Shaft Separator, which will be showcased for the first time at IFAT 2026 in Munich, Germany, from 4–7 May.The compact plug-and-play BEPU is designed to replace a diesel engine within the same space, using the same mounting locations and relative machine position. It integrates the battery, motor, inverter, onboard charging, cooling and controls, enabling OEMs to electrify existing chassis platforms without extensive redesign.Caterpillar and Cat dealer Zeppelin Power Systems have be..

VECV sales rise 6.9% in April 2026

VE Commercial Vehicles, a joint venture between Volvo Group and Eicher Motors, recorded sales of 7,318 units in April 2026, compared to 6,846 units in April 2025, registering 6.9 per cent growth. The total included 7,159 units under the Eicher brand and 159 units under the Volvo brand.Eicher branded trucks and buses reported sales of 7,159 units during the month, up 6.6 per cent from 6,717 units in April 2025. In the domestic commercial vehicle market, Eicher sales rose 8.6 per cent to 6,797 units from 6,257 units a year earlier.Exports declined 21.3 per cent, with VECV recording 362 units in ..