The spokesperson of the Shapoorji Pallonji Group said that the group has started exploring alternative deal structures, taking into account PFC’s feedback.
In FY23, Afcons posted gross sales of Rs 12,637 crore, a 15% jump over the previous year. Its top line has surged 92% (with a CAGR of 14%) in the last 5 years.
Venkatesh Gopalakrishnan, who heads the new entity as its managing director and chief executive, said that this plan is in line with the company’s aim to streamline operations and enhance value creation.
Afcons Infrastructure, the flagship infrastructure engineering and construction company of Shapoorji Pallonji group has filed its DRHP with market regulator Sebi to raise Rs 7,000 crore via IPO.
On Tuesday, APSEZ said it had entered into a definitive agreement to purchase the 56% stake of the Shapoorji Pallonji Group and 39% stake of Orissa Stevedores Ltd. (OSL) in Gopalpur Port Ltd. (GPL).
Adani Ports will purchase a 56 per cent stake in Gopalpur Port from real-estate conglomerate Shapoorji Pallonji Group (SP Group) and a 39 per cent stake from Orissa Stevedores.
Sterling and Wilson stock opened 5% lower at Rs 514.55 against the previous close of Rs 541.60 on BSE. Market cap of the firm slipped to Rs 45.90 lakh on BSE.
On February 14th, Prime Minister Modi inaugurated the BAPS Hindu Temple in Abu Dhabi, marking a historic moment. However, the first grand BAPS Hindu Temple in the Arab world was constructed by the Shapoorji Pallonji Group. Situated in Abu Dhabi, UAE, this magnificent temple, built at a cost of approximately ₹700 crores, spans across 27 acres of desert land. Additionally, STL has played a significant role in fostering cultural and communal connections through its Optical solutions implemented in the BAPS temple in Abu Dhabi. Hindu temples have been erected globally for centuries, signifying the widespread presence of Hinduism. Here, we highlight some of the largest Hindu temples constructed around the world.
In 2023, India boasts a formidable lineup of billionaires who have made significant strides in accumulating immense wealth. Topping the list is Mukesh Ambani, the chairman of Reliance Industries, with a staggering net worth of $94.3 billion. His empire spans diverse sectors, including telecommunications, petrochemicals, and retail. Closely following is Gautam Adani, the visionary behind the Adani Group, holding the second position with a formidable net worth of $85.1 billion. His conglomerate is involved in various industries such as infrastructure, energy, logistics, and resources, reflecting his multifaceted success. Securing the third spot is Shapoor Mistry, the force behind the Shapoorji Pallonji Group, with a net worth of $34.1 billion. His influence extends across diverse sectors, including construction, real estate, and infrastructure development. The technology sector is represented by Shiv Nadar, the founder of HCL Tech, who claims the fourth position with a net worth of $32.6 billion. His contributions to the IT industry have been instrumental in shaping India's global technological footprint. Savitri Jindal of the JSW Group secures the fifth position with a net worth of $25.3 billion, showcasing her prominence in the steel and power industries. Following closely is Azim Premji, the founder of Wipro, whose net worth stands at $24.5 billion, highlighting his enduring influence in the IT sector. The pharmaceutical sector is represented by Dilip Shanghvi of Sun Pharma, who claims the seventh spot with a net worth of $20.3 billion. The global steel magnate, Lakshmi Mittal, founder of ArcelorMittal, follows closely with a net worth of $19.8 billion, securing the eighth position. Radhakishan Damani of DMart fame, with a net worth of $19.4 billion, captures the ninth position, reflecting his success in the retail industry. Closing the top ten is Kumar Mangalam Birla of the Aditya Birla Group, with a net worth of $17.7 billion, showcasing his diverse interests in sectors such as metals, cement, and telecommunications. These individuals, as per the Bloomberg Billionaires Index as of December 15, 2023, epitomize the resilience and entrepreneurial spirit that define India's economic landscape, contributing significantly to the nation's growth and global standing.
Gopalpur Ports will be Adani Ports and SEZ’s sixth acquisition of a multi-purpose facility in the eastern coast, if this deal follows through.
Some analysts say that the listing is unlikely because Tata Sons will press for a waiver of the rules