AFCONS INFRASTRUCTURE LIMITED
Power Finance Corporation board okays Rs 15,000 crore loan to Shapoorji Pallonji Group companies
The board of Power Finance Corporation (PFC), a state-owned entity, has approved a loan of Rs 15,000 crore to companies within the Shapoorji Pallonji group, according to sources familiar with the matter. This decision represents a significant development for the Mistry family, who hold 18.37% stake in Tata Sons. The loan is intended to assist in settling promoter debts and fulfilling financial obligations owed by their operational firms to creditors. Security for the loan will be provided by the cash flows from SP Group's real estate operations and the Mistry family's shares in Tata Sons.
DPIIT’s action plan for startups; Infy’s push for Hubballi campus
In its action plan for the first 100 days, the DPIIT will focus on early-stage startup funding and a lesser burden of compliance for businesses. More on this on today’s ETtech Top 5.
Hyundai India to Ola Electric: Over Rs 50,000 crore worth planned IPOs likely in next few months
Some of the expected IPOs in the next few months include that of Ola Electric, FirstCry, Fincare SFB, NSDL, Afcons Infrastructure, Waaree Energies, Asirvad Microfinance, Stanley Lifestyles, One MobiKwik Systems, Emcure Pharmaceuticals, Allied Blenders and Distillers, Shiva Pharmachem, Bansal Wire Industries among others.
Yield on Goswami Infratech’s Rs. 14,300 Cr NCDs rises from 18.75% to 22%
Goswami Infratech issued rupee-denominated zero-coupon NCDs to investors like Deutsche Bank, backed by group-level monetisation events for debt reduction.
Shapoorji Pallonji Group’s flagship firm, Afcons Infrastructure, files DRHP to raise Rs 7,000 crore via IPO
According to the draft papers, the IPO, with a face value of Rs 10 per equity share, is a mix of fresh issue of shares of Rs 1,250 crore and an offer for sale of up to Rs 5,750 crore by Goswami Infratech Private Limited.
Debenture trustee seeks waiver on bond terms for Shapoorji Pallonji's Afcons proposed IPO
Goswami Infratech Pvt Ltd (GIPL) raised Rs 14500 crore in bonds in June last year, and one of the covenants of the bond was that the yields on the bonds would increase by 2% if the company failed to monetise Afcons before June 2024.
- Go To Page 1
Afcons awarded Rs 6,397 crore bullet train tunnel tender
India’s first bullet train project, being implemented by the National High Speed Rail Corporation Limited, has awarded Afcons Infrastructure the Rs6,397 crore ($800m) contract to construct a 21 km tunnel. The tender includes India’s first 7 km undersea rail tunnel in Maharashtra’s Thane Creek. Due to cover 508 km between Mumbai and Sabarmati, the bullet train is proposed to run at 320 kmph, and may reduce travel time between the two cities to around two hours.
'Excessively' high bids: Railways cancels tenders for redevelopment of New Delhi, Ahmedabad stations
In September 2022, the Union Cabinet sanctioned Rs 10,000 crore for the redevelopment of three major railway stations -- New Delhi, Ahmedabad and Chhatrapati Shivaji Maharaj Terminus (CSMT) in Mumbai. While an amount of Rs 5,000 crore was meant for the New Delhi station, around Rs 2,000 crore were earmarked for CSMT and Rs 3,000 crore for the Ahmedabad station.
Mumbai-Ahmedabad bullet train: Technical bids for 21-km tunnel, including undersea stretch, opened
Two bids have been received from Afcons Infrastructure Limited and Larsen & Toubro Limited for the C-2 package between Bandra-Kurla Complex in Mumbai and Shilphata in Thane district, a National High Speed Rail Corporation Limited spokesperson said.
Nepal Supreme Court stays highway project awarded to Chinese firm
Kathmandu-Madhesh Fast Track (Expressway) Project had floated an international tender in June. Thirteen companies responded, including petitioner Afcons Infrastructure. According to Afcons Infrastructure’s writ petition, the project office had issued a notice on September 1, saying that five companies, including the petitioner, could take part in the final tender process.
India is a “Friend in Need” says Tanzania
India and Tanzania share a multifaceted relation. Recently, Dy NSA Vikram Misri had visited the country followed by Def-Expo organised by India with participation of 16 Indian defence manufacturers. Water sector has also evolved as an important area of partnership in recent years.
NGT refuses to recall order directing Afcons Infra, Larsen & Toubro to pay compensation of Rs 1 crore each
Even though for such violation, on 'polluter pays' principle, deterrent compensation is liable to be paid having regard to the financial capacity of the polluter, the tribunal has adopted an extremely conservative approach of requiring compensation of Rs 1 crore each only.
Sunk ONGC barge had safety, seaworthiness certificates: Minister
He said based on weather considerations, ONGC had advised Barges Papaa-305 to move out of the field. The barge had also confirmed that it was moving out of the field. However, it moved only a small distance and was caught in the cyclone.
Indian navy hunts for 80 missing at sea after devastating Cyclone Tauktae
"There are waves of 20 to 25 feet, the winds are high and the visibility is low," said navy spokesman Vivek Madhwal. "Ships and have aircraft have been deployed for the search and rescue mission."
8 companies bid to build bridges on bullet train route: NHSRCL
The National High Speed Rail Corporation Limited (NHSRCL) opened technical bids for two packages for the bullet train project between Mumbai and Ahmedabad on Friday.
Stocks in the news: RIL, Tata Chemicals, Coal India, TechM, HDFC, Tata Motors DVR and Airtel
TechM said its subsidiary has divested its stake in Altiostar Networks for $45 million (about Rs 331 crore) to Rakuten USA, Inc.
Tatas, L&T, IRCON among 7 infra majors to bid for Mumbai-Ahmedabad bullet train project
Technical bids for the design and construction of 237 km length of mainline of the stretch were opened on Wednesday, the National High Speed Rail Corporation Limited, which is the implementing agency of the project said in a statement.
What does India want on July 5? Here's a ground report from 8 places that matter
ET visited eight industrial hubs across India, spanning several sectors, to find out what businesses want.
RInfra wins Rs 648 cr contract from AAI to build new airport at Rajkot, Gujarat
The company emerged winner among nine bidders that included Larsen & Toubro, Dilip Buildcon and Gayatri Projects.
Infra companies’ woes mount as huge receivables stuck in disputes
IL&FS has accumulated a consolidated debt of around Rs 91,000 crore.
Metro move to get more contractors backfires
The BMRCL had estimated tunnelling and construction of 12 underground metro stations between Nagawara and Dairy Circle to cost ₹5,048 crore.
Mistry vs Mistry: Mehli Mistry counters charges slapped on him by the ousted Tata Sons chairman
Mehli Mistrty believes that had Cyrus’ father Pallonji Mistry been active, this point of no return at the Tata group would never have been crossed.
Trouble with Russian contractor & court battle: Why Chennai Metro rail is caught in a controversy
A prolonged court battle is in the offing while termination of the contract will mean an additional two years’ delay in the work.
How Bhushan Satam created 'Sankalp', the Rs 25 crore realty group
The beginning of my entrepreneurial journey is steeped in irony. As a 20-year-old, I was forced to migrate to Mumbai from Malvan, a small town in Maharashtra
Afcon Infra bags Rs 2,598-cr Chennai Metro Project
Afcons Infrastruture today said it has bagged a contract worth Rs 2,598 crore for execution of the Chennai Metro Project.
Railways brings highest, tallest, bridge to Kashmir
Upcoming railway line connecting Srinagar with the plains will have the world’s tallest as well as India’s highest railway bridge.
Pallonji splits 2 investment units
Pallonji Mistry is restructuring the two main investment companies in his group, Sterling Investments and Cyrus Investments.
Load More
