Shapoorji Pallonji Group's flagship infrastructure engineering and construction company Afcons Infrastructure Ltd (AIL) has filed draft papers with markets regulator Sebi to raise Rs 7,000 crore through an initial public offering (IPO). The company's mega IPO is a combination of fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 5,750 crore by promoter Goswami Infratech Private Limited. Also, the offer includes a reservation for subscriptions by eligible employees, according to the draft red herring prospectus (DRHP) filed on Thursday. Currently, promoter and promoter group entities own 99.48 per cent stake in Maharashtra-based Afcons Infrastructure. Moreover, the company may consider raising up to Rs 250 crore in the "pre-IPO placement" round. If such placement is completed, the fresh issue size will be reduced. Founded in 1865, Shapoorji Pallonji Group (SP Group) is a diversified institution, and has a leading presence in engineering & ... Read The Rest at :