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Chennai Jan. 24 Afcons Infrastructure Ltd, a Shapoorji Pallonji group company, has planned to list not just to raise funds but also to gain visibility, said Mr K. Subrahmanian, Managing Director, Afcons Infrastructure Ltd.

He said that listing would help the company for joint ventures, international bids and attracting talent.

Afcons Infrastructure, a construction and civil engineering company, has filed a draft red herring prospectus with the Securities and Exchange Board of India for approval for its maiden public issue.

The company proposes to offer 1.61 crore equity shares of Rs 10 each for cash at a premium. The issue comprises a net issue of 1.57 crore shares to the pubic. The issue would constitute 18.3 per cent of the post issue paid-up capital of the company. The net issue constitutes 18 per cent of the post issue paid-up capital of the company.

He said Rs 125 crore from the proceeds of the IPO would be used for purchasing capital equipment, Rs 75 crore for repayment of debt and the remaining for general corporate purposes and strategic initiatives.

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