Another big IPO may open next week. Money Control has informed quoting sources that the IPO of Afcons Infrastructures, the flagship company of Shapoorji Pallonji Group i.e. SP Group, may open from the middle of next week. The IPO received SEBI approval only last month. The source has expressed hope that the company's IPO may get a strong response from investors. The source also said that with the completion of the IPO process and the completion of the Gopalpur Port stake sale, the SP Group will pay interest of Rs 1800 crore to its bondholders by the end of October.


Moneycontrol's report quoted a source as saying that with the completion of Gopalpur Port stake sale and the launch of Afcons IPO next week and the completion of the IPO process by the end of October, SP Group can pay the interest on NCDs by October 30. At present, no official response has been received from the group in this matter. The group had informed in September that selling Dharamtara Port to JSW Group and Gopalpur stake to Adani Group would fetch around Rs 1100 crore, which is much less than the estimate of Rs 1500 crore. In such a situation, the IPO is being considered very important to raise the required amount. In view of the demand in the market, SP Group has increased the size of the IPO. Now an attempt will be made to raise Rs 8400 crore from the market through the issue. Earlier there was a plan to raise Rs 7000 crore. Out of this, Rs 3500 to 4000 crore is to be raised through pre-IPO round, while Rs 4000 to 4500 crore can be raised through IPO. According to the company's plan, the debt burden will be reduced with the money raised from the IPO.