IPO Update : Shapoorji Pallonji Group company Afcons Infrastructure Limited has fixed the price band at Rs 440-463 per share for its Rs 5,430 crore IPO, which opens on October 25. Afcons Infrastructure said in a statement that its IPO is a mix of new shares up to Rs 1,250 crore and an offer for sale (OFS) up to Rs 4,180 crore. The issue will close on October 29.

How will investors be able to bid

The company said the price band of the IPO has been fixed at Rs 440-463 per share and investors can bid for a minimum of 32 equity shares and in multiples of 32 thereafter. The company said the funds raised through the IPO will be used to purchase construction equipment, meet long-term working capital requirements, and repay certain outstanding debt. Afcons operates in five business segments in the infrastructure sector, which include marine and industrial, surface transport, urban infrastructure, hydropower, and underground along with oil and gas.

SEBI approval for these IPOs

Niva Bupa Health Insurance Company Limited and Paras Healthcare Limited have received approval from the Securities and Exchange Board of India (SEBI) to raise capital through IPO. Bupa Health Insurance Company Limited operates in the health insurance sector, while Paras Healthcare Limited runs a hospital chain under the brand 'Paras Health'.

Niva Bupa Health Insurance Company plans to raise Rs 3,000 crore by issuing new shares and through a sale offer (OFS). On the other hand, Paras Healthcare is looking to raise up to Rs 400 crore through an IPO. Both the companies had applied for IPO with the Securities and Exchange Board of India in July-August.