S&R Associates represented ICICI Securities, DAM Capital Advisors, Jefferies India, Nomura Financial Advisory and Securities (India), Nuvama Wealth Management and SBI Capital Markets, book running lead managers, in the INR 54.30 billion initial public offering by Afcons Infrastructure Limited, the flagship infrastructure engineering and construction company of the Shapoorji Pallonji group and one of India’s largest international infrastructure construction companies. The transaction also involved a pre-IPO INR 29.68 billion sale of equity shares by a promoter selling shareholder.
The S&R team was led by partners Sandip Bhagat and Jitesh Shahani, and included associates Mohnish Mathew, Ayushi Shrivastava and Sudipta Choudhury.