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IPO-bound Afcons Infra sees record order inflow

Livemint

Livemint · 9m ago

IPO-bound Afcons Infra sees record order inflow

Construction firm Afcons Infrastructure Ltd, part of the Shapoorji Pallonji Group, has recorded a surge in new orders, surpassing its previous highest annual business inflow in the first half of FY25. The company has garnered new orders worth ₹11,400 crore ($1.5 billion) and emerged as the lowest bidder for ₹7,600 crore ($1 billion) of orders. These figures indicate an order inflow of about ₹19,000 crore ($2.5 billion) in H1 FY25, compared to ₹7,783 crore ($1 billion) in FY24. Afcons' credit lines from lenders have enabled increased bank guarantees, allowing for aggressive bidding and project execution. Following its IPO, the company plans to retire high-interest debt and enhance its banking limits.

Related News

In a Conservative Pitch to Investors, Afcons says focus on high-margin EPC biz

Livemint

Livemint · 1y ago

In a Conservative Pitch to Investors, Afcons says focus on high-margin EPC biz

Shapoorji Pallonji Group's subsidiary, Afcons, is taking a conservative approach ahead of its upcoming IPO. The company, which specializes in high-margin engineering, procurement, and construction (EPC) projects, has seen steady revenue growth and healthy cash flows by focusing on technologically complex projects with low competition. Unlike its peers, Afcons will not diversify into other industries but is open to diversification within the EPC sector. With an order book of INR 32,556 crore ($4.36 billion) and a significant portion of government contracts, the company sees ample business opportunities in the infrastructure EPC segment. Afcons plans to raise INR 7,000 crore ($938 million) through the IPO, with a portion allocated for debt repayment and working capital.

Grapevine: True North plans an exit; Edelweiss Alts, CarDekho, Afcons in IPO news

VCCircle

VCCircle · 10m ago

Grapevine: True North plans an exit; Edelweiss Alts, CarDekho, Afcons in IPO news

- True North considering complete exit from Shree Digvijay Cement Company - Edelweiss Alts, CarDekho, and Afcons in IPO news - True North exploring options to sell its stake in Shree Digvijay Cement Company - Private equity firm engaged advisors for the exit - True North currently holds a 54.83% stake in the company

IPO-bound Unicommerce on overseas expansion spree

Economic Times

Economic Times · 1y ago

IPO-bound Unicommerce on overseas expansion spree

IPO-bound SaaS platform Unicommerce is expanding its overseas operations by adding more clients in Singapore, the Philippines, Indonesia, UAE, and Saudi Arabia. The company already serves 46 clients in these markets, including Redtag, Edamama, and RSA Global. Unicommerce offers e-commerce enablement solutions and its product portfolio includes order management, warehouse and inventory management, and omnichannel retail management systems. It provides local taxation support, language-specific invoices, and shipping label generation for international clients. Unicommerce is the only profitable company among the top five players in its segment in India. The IPO is expected to raise around Rs 500 crore.

IPO-bound Swiggy trails Zomato in key metrics

The Arc Web

The Arc Web · 1y ago

IPO-bound Swiggy trails Zomato in key metrics

Swiggy's food delivery business grew 17%, reaching a gross merchandise value of $1.43 billion in H1 2023. However, Zomato's gross order value was 16% higher at $1.66 billion, indicating higher market share. Prosus, Swiggy's major shareholder, plans to reduce its 32.7% stake before Swiggy's IPO. Swiggy's EBITDA losses in food delivery fell 89%, driven by improved contribution margins. Instamart, Swiggy's rapid-grocery unit, saw a 63% sales increase, aiming for profitability in its 25 operating cities.

Bullish DIIs hit another milestone; net investments cross Rs 4 lakh crore in a year for first time ever

Money Control

Money Control · 9m ago

Bullish DIIs hit another milestone; net investments cross Rs 4 lakh crore in a year for first time ever

India's stock market has seen a surge in investments by domestic institutional investors (DIIs), reaching a record of over Rs 4 lakh crore. This coincides with a sell-off by foreign investors, leading to a trend of increasing retail investor participation through mutual funds. Experts believe that this structural shift towards equities driven by DIIs will help maintain high valuations and stabilize the market. In October, DIIs invested over Rs 60,000 crore, marking the highest monthly inflow on record. Meanwhile, foreign investors have been net sellers at nearly Rs 68,000 crore.

Sixth Street-Backed Caris Life Sciences Targets $423.5 Million IPO With $5.35 Billion Valuation in Oncology Precision Medicine | DeepNewz VC

deepnewz

deepnewz · 2m ago

Sixth Street-Backed Caris Life Sciences Targets $423.5 Million IPO With $5.35 Billion Valuation in Oncology Precision Medicine | DeepNewz VC

Caris Life Sciences, supported by Sixth Street, aims to raise $423.5 million through an initial public offering (IPO), valuing the company at approximately $5.35 billion. As a biotech firm, Caris Life Sciences specializes in innovative medical technologies and diagnostics, seeking to capitalize on public market opportunities. This IPO reflects a growing interest and investment in the medtech sector, driving advancements and potential through substantial capital inflow for research and development.

IPO-bound Swiggy launches XL fleet for bulk orders in festive season | Mint

Livemint

Livemint · 10m ago

IPO-bound Swiggy launches XL fleet for bulk orders in festive season | Mint

- Swiggy has launched a bulk order service called Swiggy XL EV fleet, which aims to serve large orders at once. - The service has undergone a pilot run and was officially launched in Gurugram. - The fleet has already delivered 3500 meals to electoral officials at polling booths in Gurugram and Badshahpur. - The Swiggy XL EV fleet service will be expanded to more cities in the coming weeks. - The service includes features such as temperature-controlled compartments and electric-powered fleet. - Swiggy has filed revised draft documents for an IPO to raise capital.

Tech stocks see biggest weekly outflow on record, BofA says

Reuters · 1y ago

Tech stocks see biggest weekly outflow on record, BofA says

Investors sold off technology stocks and increased their investments in investment grade bonds and cash equivalents during the week ending Wednesday, according to data from Bank of America. The outflows from tech stocks reached a record-breaking $4.4 billion, marking the first outflow in nine weeks. Additionally, there was a significant influx of $32 billion into cash and $13.3 billion into investment grade bonds, the highest inflow since September 2020.

Startup Policy Forum launches CNPC to support IPO-bound startups in India

Entrackr

Entrackr · 24d ago

Startup Policy Forum launches CNPC to support IPO-bound startups in India

Startup Policy Forum launches CNPC to support IPO-bound startups in India CNPC will facilitate regulatory dialogue, conduct training on compliance and governance, and enable peer learning and policy guidance for founders and CXOs. The Startup Policy Forum (SPF), an alliance of over 50 Indian new-age companies, has launched the Centre for New-Age Public Companies (CNPC) to support startups transitioning from private to public markets. The platform aims to address regulatory, governance, and market-readiness challenges as India sees a growing pipeline of IPO-ready startups. The CNPC was formally launched in the presence of SEBI Chairman Tuhin Kanta Pandey during a high-level meeting with 20 startup founders and leaders in Mumbai. The initiative comes at a time when nearly 40 startups, with a combined valuation exceeding $90 billion, are expected to go public in the coming years. “India’s capital markets are witnessing a structural shift, with new-age and tech-driven companies increasingly dominating IPO pipelines and investor interest. The Centre will enhance readiness and resilience of new-age companies as they enter and thrive in public markets,” said Shweta Rajpal Kohli, President and CEO, Startup Policy Forum. SPF’s membership includes listed startups like Swiggy, ixigo, Ather Energy, and MobiKwik, with others such as Meesho, Groww, Curefoods, Bluestone, and PhysicsWallah also preparing to list. The CNPC aims to build market confidence, improve capital market preparedness, and enable India’s next generation of public tech companies.

Reliance Infra share price - Reliance Infra shares jumped 20% in 3 days; is more steam left? - Reliance Infra shares jumped 20% in 3 days; is more steam left? BusinessToday

Business Today

Business Today · 5m ago

Reliance Infrastructure recently witnessed a significant stock price increase, rising 20% over the past three trading days. Despite facing considerable financial challenges due to high operational expenses, debt obligations, declining revenues, and profitability, the company sees potential for growth through strategic partnerships and project completions. For sustainable long-term growth, profitability and debt reduction are crucial. The stock experiences strong resistance around Rs 250, with potential upward movement to Rs 280-290 and support at Rs 220-230.

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