Page 2 - Shapoorji Pallonji Group

Ahead of IPO, Afcons Infra collects Rs 1,621 cr from anchor investors

Shapoorji Pallonji Group's flagship infrastructure engineering and construction firm Afcons Infrastructure Ltd (AIL) on Thursday said it has mobilised Rs 1,621 crore from anchor investors, a day before its initial share sale opening for public subscription. Foreign and domestic institutions participated in the anchor book include HDFC Mutual Fund (MF), ICICI Prudential MF, BlackRock, Fidelity Investments, Goldman Sachs, HSBC Group, Nomura, Nippon India MF, Enam Holdings, Mirae MF, Quant MF, Invesco MF, Eastbridge, Amundi, Invesco HK and SBI General Insurance. The company has allocated over 3.5 crore equity shares to 80 funds at Rs 463 apiece, which is also the upper end of the price band. This aggregates the transaction size to Rs 1,621.5 crore, according to a circular uploaded on BSE's website. Of 3.5 crore equity shares, 1.17 crore equity shares worth Rs 542.2 crore were allocated to 15 domestic mutual funds through a total of 31 schemes. This accounts for 33.44 per cent of the .

Shapoorji Pallonji's Afcons Infra to float Rs 5,430 cr IPO on Oct 25

Shapoorji Pallonji Group's infrastructure engineering and construction company Afcons Infrastructure Ltd (AIL) is gearing up to launch its Rs 5,430-crore initial public offering (IPO) on October 25. The initial share sale will conclude on October 29 and the bidding for anchor investors will open for a day on October 24, according to the red herring prospectus (RHP). The company will announce the price band for the IPO next week. The infrastructure firm's Rs 5,430-crore IPO is a combination of a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech Private Limited. The offer size has been reduced following a pre-IPO fundraising. In the March draft papers, the company had initially planned to raise Rs 7,000 crore through the initial share sale. Currently, promoter and promoter group entities own a 99 per cent stake in Maharashtra-based Afcons Infrastructure. The company will utilise Rs 80 crore from the fresh issu

Shapoorji Pallonji Real Estate, Kanodia to develop 1.74 acre luxury project

Shapoorji Pallonji Real Estate (SPRE) has formed a joint venture with Kanodia Group's real estate venture Kreeva to develop a luxury residential project in Gurugram. The land is located at Sector 46, Gurugram. Spanning across 1.74 acres, the project will consist of luxury apartments, targeting homebuyers in the National Capital Region (NCR), the company said in a statement. Venkatesh Gopalakrishnan, Director Group Promoter's Office, MD & CEO, Shapoorji Pallonji Real Estate (SPRE), said, "We are excited to partner with KREEVA (Kanodia Real Estate Venture Arm) to bring our expertise in real estate development to Gurugram's Sector 46". This collaboration is in line with the company's vision of expanding its footprint in key markets across India, he said. "This is our second project in Gurugram, and we aim to create a landmark that will redefine the skyline of the location and provide an unparalleled living experience," Gopalakrishnan said. Gautam Kanodia, founder of Kreeva and ...

Noel Tata's new role may end feud with Shapoorji Pallonji Group; here's how

Relations between Tata Sons and Shapoorji Pallonji Group have been strained since 2016, following the ousting of Cyrus Mistry

Ratan Tata's death marks end of an era: SP Group Chairman Shapoorji Mistry

Ratan Tata will always be remembered as a leader who left a lasting mark on the evolution of the Tata Group and his unfortunate passing marks the end of an era, SP Group Chairman Shapoorji Mistry said on Thursday. In his condolence message, Mistry said, "Mr Tata's unfortunate passing marks the end of an era. He will always be remembered as a leader who left a lasting mark on the evolution of the Tata Group." He further said, "The Mistry family has had a long standing relationship with the Tata Group and with Mr Ratan Tata." The SP Group is the largest minority shareholder with 18.37 per cent stake in Tata Sons, the principal investment holding company and promoter of Tata companies. The relationship between the SP Group and the Tatas soured after the sacking of Cyrus Mistry as Chairman of Tata Sons on October 24, 2016. Cyrus Mistry, who succeeded Ratan Tata as the chief of the Tata group in 2012, died in a car accident in 2022.

SP Group plans new $253.5 mn bond sale, seeks more time to repay some dues

The company is in talks with Deutshe Bank for this new 21.2 billion rupees debt raise and the final amount could be higher, at around 24 billion rupees

Global investor consortium lines up Rs 2,100 crore investment in SP Group

Engineering and construction major Shapoorji Pallonji group is gearing up to receive investments of over Rs 2,100 crore from a consortium of global investors led by Deutsche Bank, according to sources. The global investors are existing investors in the group's investment company Goswami Infratech, which is also one of the promoter companies of Afcons Infrastructure that is scheduled for Rs 7,000 crore IPO early next month. The group has also sought an extension of payments on non-convertible debentures of up to Rs 2,100 crore, which are due in September, till December this year. This development comes on the back of the SP Group lining up near-term repayments of nearly Rs 8,000 crore through identified liquidity events, including proceeds from the upcoming IPO Afcons Infrastructure and from the sale ports assets, a person aware of the development said. "A few global investors in Goswami Infratech Pvt Ltd have agreed in principle to further their investments in the SP Group company,

Shapoorji Pallonji to take its real-estate arm public in 2 years: Report

In the first phase, Shapoorji Pallonji Real Estate aims to raise around $800-900 million through an IPO of about 10-12 per cent stake

Power Finance Corp board did not discuss Shapoorji Pallonji Group loan

Board had sanctioned a loan of Rs 20,000 crore to the SP Group in June

Power Finance Corp approves Rs 15,000 cr loan to Shapoorji Pallonji group

This loan will assist the Mistry family in repaying personal debts, amounting to about $3 billion, and fulfilling commitments made to their creditors

SP Group backed platform sells Hyderabad project for Rs 2,200 crore

An investment platform co-owned by debt-laden Shapoorji Pallonji Group has sold its stake in a Hyderabad commercial real estate project for Rs 2,200 crore, sources said on Wednesday. Singapore's GIC is said to have bought the stake in the TSI Business Parks (Hyderabad) Pvt Ltd, the sources said. SPREF II, the investment platform owned by Shapoorji Pallonji Group and German insurer Allianz, acquired a controlling stake in TSIBPH in December 2019. TSIBPH owns Waverock, an IT special economic zone in Gachibowli in Hyderabad with a gross leasable area of about 2.4 million sq ft, as per a statement. "The securities held by SPREF II in TSIBPH have been purchased by a joint venture of global institutional investors, marking one of the largest transactions in Indian real estate in FY24-25," the statement said. However, the quantum of money coming into the SP Group was not immediately clear because its stake in the investment platform SPREF II could not be ascertained. "This transaction .

Goswami Infratech gets nod to delay payment due this month: Report

The company has received sufficient creditor backing for a proposal to delay a bond payment, according to the people familiar who asked not to be identified

Goswami Infratech sweetens offer to bondholders, in return for more time

Goswami Infratech is an investment company within the Shapoorji Pallonji group under billionaire Shapoor Mistry. Its projects include apartments, warehouses, parking spaces and shops

Realty firm Shapoorji group seeks more time to clear bondholder payments

The company is required to pay around 1,400 crore rupees ($167.62 million) to bondholders of Goswami Infratech when it services the debt of another group company Sterling Investment Corp

Shapoorji Pallonji Group seeks $1.2 billion loan from Power Finance Corp

As collateral for the initial loan, the SP Group pledged its 18 per cent stake in Tata Sons, the holding company of the Tata Group, according to reports

This Shapoorji Pallonji Group stock has zoomed 57% in 4 days

Forbes & Company stock update: The stock was locked at the 20% upper circuit in intra-day deals on Thursday, April 25.

Shapoorji Pallonji Group's Afcons Infra files papers for Rs 7,000-cr IPO

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 & ...

Adani's stake purchase in Gopalpur Port to provide debt relief to SP Group

Adani Ports agreed to purchase a 95% stake in the port for 13.5 billion rupees ($162 million) from Shapoorji and Orissa Stevedores Ltd

Shapoorji Pallonji Group seeks up to $2.4 bn from lenders to refinance debt

The group, controlled by Indian billionaire Shapoor Mistry, has reached out to Power Finance for up to Rs 15,000 crore, the largest chunk in the planned fundraising, the people said

Shapoorji Pallonji Real Estate eyes Rs 250 cr revenue from new project

Shapoorji Pallonji Real Estate is expecting over Rs 250 crore revenue from its new housing project in Mumbai and has raised Rs 55 crore to finance the development. In a statement, the company said WSB Real Estate Debt Fund II (WSBREDF II) has invested Rs 55 crore in its premium project 'BKC 9' at Bandra East, Mumbai. The project is a collaborative effort between Shapoorji Pallonji Real Estate (SPRE) and Vakratunda Buildcon Private Ltd. (VBPL). The company anticipates revenue exceeding Rs 250 crore from this project, it said. "The WSBREDF-II fund has committed an investment of Rs 55 crore to complete the premium project, BKC 9," it said. The project, spread over nearly half acre of land, has 92 apartments. The price of the apartments starts at Rs 2.11 crore. Nirav Dalal, Business Head and Chief Investment Officer, Shapoorji Pallonji Real Estate, said, "Our collaboration with WSB Partners reinforces our dedication to delivering innovative and top-tier developments that redefine th