Afcons Infrastructure is planning for Rs 40 billion pre-IPO placement

Afcons Infrastructure is planning for a pre-IPO placement of Rs 40 billion. The move will scale down the planned IPO size to be launched in October and potentially enhance the company’s credibility in the market. The investors in the pre-placement will include a domestic mutual fund and a global sovereign fund. The IPO of Rs 70-80 billion is planned for mid-October 2024.