Goswami Infratech seeks another extension for Afcons IPO listing

Shapoorji Pallonji’s Goswami Infratech has requested a two-week extension from debenture holders to list shares of Afcons, pushing the long-stop date from October 31 to November 15, 2024. The company expects the listing to be completed by early November and has sought consent from the debenture trustee to extend the timeline for filing the Red Herring Prospectus (RHP).

In a communication to bondholders, Goswami Infratech assured that it is not seeking a waiver on pricing conditions for its Rs 14,300 crore non-convertible debentures (NCDs) but is asking for more time to meet capital market regulations.

Afcons has received approval from capital markets regulator Sebi for an Rs 8,400-crore IPO.


SP Group is looking to reduce debt through asset sales, including Gopalpur Port, and the Afcons IPO.

These monetisation events have faced delays, resulting in a 400 basis-point coupon step-up to 22.75%. Goswami Infratech had raised Rs 14,300 crore from private credit funds and other lenders in June 2023 offering them 18.75%.