Upcoming IPOs:Five companies, including Shapoorji Pallonji Group's engineering and construction company Afcons Infrastructure Limited (AIL), have received market regulator SEBI's approval to raise funds through IPO. An update released by the Securities and Exchange Board of India (SEBI) on Monday showed that the IPO approval application filed by five companies has been approved.

what is the detail

Apart from Afcons, the companies that received SEBI approval include Godavari Biorefineries, Shivalik Engineering Industries Limited, Quadrant Future Tech and Enviro Infra Engineers. All these firms had filed their IPO documents with SEBI between March and June. They received the letter of approval from SEBI between September 5 and 13.

The issue will be of Rs 7,000 crore

Afcons Infrastructure Limited proposes to launch an IPO of Rs 7,000 crore. This will include an offer for sale of up to Rs 5,750 crore by promoter firm Goswami Infratech Private Limited along with new shares worth Rs 1,250 crore. Currently, promoters and promoter group companies hold 99.48 percent stake in Afcons.

Ethanol and bio-based chemicals maker Godavari Biorefineries Ltd's IPO will comprise a fresh issue of Rs 325 crore and an offer for sale of up to 65.27 lakh equity shares by promoters and an investor. Engineering company Shivalik Engineering Industries' IPO is a mix of a fresh issue of Rs 335 crore and an offer for sale of up to 41.3 lakh equity shares by promoters and other shareholders, according to draft documents. Quadrant Future Tech is aiming to raise Rs 275 crore through its IPO by issuing a completely fresh issue.

Apart from this, the IPO of Enviro Infra Engineers, which is involved in polluted water treatment projects, is a combination of a fresh issue of 4.42 crore equity shares and a sale offer of 52.68 lakh shares by the promoters. Meanwhile, the market regulator has returned the draft document of IPO of Ahmedabad-based Army Infotech. The company's proposed IPO was to have a fresh issue of Rs 250 crore.