Latest news with #AfconsInfrastructure
India.com
04-07-2025
- Business
- India.com
This Indian company eyes Rs 25050000000 loan to repay existing debt at HDFC bank, not Mukesh Ambani's Reliance, Ratan Tata's Tata Motors, TCS, Infosys, name is…
This Indian company eyes Rs 25050000000 loan to repay existing debt at HDFC bank, not Mukesh Ambani's Reliance, Ratan Tata's Tata Motors, TCS, Infosys, name is... Shapoorji Pallonji & Co., the construction arm of the Shapoorji Pallonji Group, is in talks with banks to borrow about USD 300 million (roughly Rs. 25 billion). Three people who know about the discussions told Reuters that the money will be used to refinance, or replace, an earlier loan. The potential loan would be secured as it will be backed by shares of Afcons Infrastructure, an engineering subsidiary of the Shapoorji Pallonji Group, reported the news agency, citing people aware of the development. The agency report also highlighted that the debt, which Shapoorji Pallonji seeks to refinance, belongs to the largest private bank in India, HDFC Bank. How the company plans to secure the new loan The firm may take the loan in Indian rupees. The loan would be backed by shares of Afcons Infrastructure (another group company) plus some of the group's real‑estate properties. Two of the sources said the company hopes for an interest rate of around 15 per cent, though the final terms have not been set. The debt being replaced ICRA data shows that in March 2022 Shapoorji Pallonji & Co. took a term loan of about Rs. 22.5 billion (around USD 263 million) from HDFC Bank. The new borrowing will pay off that earlier loan. No official comment yet When Reuters asked the company for details, Shapoorji Pallonji & Co. did not respond. If the talks succeed, the new funds will help the company manage its debts more smoothly by replacing the older loan with fresh financing under updated terms. Shares detail of Shapoorji Pallonji and Afcons Infra As Shapoorji Pallonji & Co. plans to use shares of Afcons Infrastructure as security to get a new loan for paying off old debts, here's a quick and easy look at how Afcons shares are doing in the stock market. On Thursday (3 July 2025), Afcons shares closed at Rs. 433, which is a small rise from the previous day's close of Rs. 430.75. Since the company got listed on the stock market in November 2024, the share price has fallen by around 11.79 per cent. So far in 2025, the shares are down by 19.76 per cent, but in the last one month, they have gone up by 2.45 per cent. All-time highs and lows: The highest price Afcons shares ever reached was Rs 570 on 3 January 2025. The lowest price was Rs. 382.40 on 7 April 2025. As of Thursday's closing, Afcons Infrastructure's total market value (market capitalisation) was about Rs. 15,925 crore.
Mint
03-07-2025
- Business
- Mint
Shapoorji Pallonji & Co. aims to raise $300 million to refinance its existing debt — Details here
The construction arm of the Shapoorji Pallonji Group conglomerate, Shapoorji Pallonji & Co., is in discussions with bankers to raise nearly $300 million to refinance the company's existing debt, reported the news agency Reuters, citing three people aware of the development. According to the news agency's report, the company may seek to raise the required funds in Indian currency (Rupees). The potential loan would be secured as it will be backed by shares of Afcons Infrastructure, an engineering subsidiary of the Shapoorji Pallonji Group, reported the news agency, citing people aware of the development. They said that in addition to the backing of the company shares, some other real estate assets will serve as security for the loan. The agency report also highlighted that the debt, which Shapoorji Pallonji seeks to refinance, belongs to the largest private bank in India, HDFC Bank. Tbe company will aim to avail a loan at nearly 15% interest rate, however the details of the refinancing deal is yet to be confirmed. The news agency sent queries to the construction firm Shapoorji Pallonji & Co., but it did not receive a response. The report also mentioned that the company took a term loan of around ₹ 2,250 crore from HDFC Bank in March 2022. As Shapoorji Pallonji & Co. aims to pledge Afcons Infrastructure shares to the bankers for a loan to refinance its existing debts, let's take a look at the shares of the Shapoorji Pallonji Group's engineering arm. Afcons Infrastructure shares closed 0.52% higher at ₹ 433 after Thursday's stock market session, compared to ₹ 430.75 at the previous market close. The Shapoorji Pallonji Group's engineering subsidiary shares have lost 11.79% since their listing on the Indian stock market in November 2024. The shares are trading 19.76% lower on a year-to-date (YTD) basis in 2025. However, in the last one-month period, the shares have gained 2.45% in the stock market. Shares of Afcons Infra hit an all-time high of ₹ 570 on 3 January 2025, while the all-time low was ₹ 382.40 on 7 April 2025, according to the data collected from BSE website. The company's market capitalisation (M-Cap) stood at ₹ 15,925.07 as of the stock market close on Thursday, 3 July 2025. Disclaimer: This story is for educational purposes only. The views and recommendations above are those of individual analysts or broking companies, not Mint. We advise investors to check with certified experts before making any investment decisions.
Time of India
03-07-2025
- Business
- Time of India
Shapoorji Pallonji unit eyes $300 mn Afcons shares-backed loan to repay HDFC Bank: Sources
Synopsis Shapoorji Pallonji and Co. is reportedly engaging with bankers to secure approximately $300 million for debt refinancing. Sources indicate the construction giant may opt for an Indian rupee loan, collateralized by shares of Afcons Infrastructure and real estate holdings. The funds will be used to refinance existing debt owed to HDFC Bank.
Business Standard
02-07-2025
- Business
- Business Standard
Afcons Infrastructure bags LoC from Reliance Industries for civil work at Jamnagar
Afcons Infrastructure said that it has received a letter of commitment (LoC) from Reliance Industries (RIL) for undertaking civil and structural erection work at RIL's facility in Jamnagar, Gujarat. Shares of Reliance Industries shed 0.35% to Rs 1,522.90 on the BSE. The estimated contract value stands at Rs 175 crore (excluding GST), based on the bill of quantities (BOQ). The tentative completion timeline will be mutually agreed upon by both parties. This project forms part of RILs ongoing infrastructure development at its flagship Jamnagar complex. Afcons Infrastructure is the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate. It has a legacy of over six decades, with a strong track record of executing numerous technologically complex EPC projects both within India and internationally. Reliance Industries (RIL) is the largest private sector corporation in India. Its activities span hydrocarbon exploration and production, petroleum refining and marketing, petrochemicals, advanced materials and composites, renewables (solar and hydrogen), retail and digital services.
Yahoo
11-06-2025
- Business
- Yahoo
Afcons Infrastructure completes single-arch railway bridge in India's Himalayas
Afcons Infrastructure, a division of the Shapoorji Pallonji Group, has completed the construction of the Chenab Railway Bridge, a single-arch railway bridge in the Himalayan terrain of India. The bridge is claimed to be the world's highest single-arch railway bridge, according to the company. It connects the Kashmir Valley to the Indian subcontinent by rail for the first time and is designed to endure earthquakes and bomb blasts. The bridge, part of India's Udhampur-Srinagar-Baramulla Rail Link (USBRL) Project, has a design life of 120 years. It spans 1.3km and incorporates features to withstand extreme wind speeds of up to 266km/h and seismic forces, reflecting the highest engineering standards, according to the company. Afcons executive vice chairman Krishnamurthy Subramanian said: 'The Chenab Railway Bridge is more than just a marvel of engineering. It is a symbol of India's resolve to conquer the most formidable challenges with ingenuity and courage.' The bridge's design includes built-in redundancy, ensuring it remains operational even in the event of damage to a pier or trestle, with a restricted speed of 30km/h without collapsing under its own weight. To construct the Chenab Railway Bridge, Afcons utilised advanced construction technologies and equipment, including the world's largest-capacity crossbar cable cranes. The project introduced several engineering firsts for Indian Railways, such as the use of Phased Array Ultrasonic Testing (PAUT) for weld inspection and the establishment of an onsite NABL-accredited testing laboratory. Additionally, it marked the first implementation of the incremental launching of a deck structure on combined circular and transition curves. Afcons managing director S Paramasivan said: 'For Afcons, it represents our unwavering commitment to nation-building and our ability to reimagine infrastructure in the toughest terrains. 'This bridge will inspire generations of engineers and stands as a tribute to the power of Indian engineering and teamwork.' "Afcons Infrastructure completes single-arch railway bridge in India's Himalayas" was originally created and published by Railway Technology, a GlobalData owned brand. The information on this site has been included in good faith for general informational purposes only. It is not intended to amount to advice on which you should rely, and we give no representation, warranty or guarantee, whether express or implied as to its accuracy or completeness. You must obtain professional or specialist advice before taking, or refraining from, any action on the basis of the content on our site.
