As of December 2023, Goswami Infratech Pvt Ltd holds a 72.35% stake, while Shapoorji Pallonji and Company owns a 16.64% stake in Afcons Infrastructure Ltd.
Proceeds worth Rs 150 crore from the issue will be used for capital expenditure, Rs 350 crore will be used to fund long-term working capital requirement
The Tata Trusts and Tata Sons are said to be closely monitoring the Shapoorji Pallonji (SP) Groups bid to raise ₹20,000 crore from state-run institutions to refinance debt taken against stakes in the Tata Group holding company.
"Indian lenders and their credit committees would need to evaluate whether their inability to transfer or sell the security in a default situation represents an acceptable risk," said one of the persons.
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