Afcons Infrastructure Limited has informed the Exchange about issue of Securities
AFCONS · price
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On the reaction day the stock moved 1.8 pts less than Nifty Smallcap 250 and 1.4 pts less than its Civil Construction peers, over the same two closes: a difference in percentage points, not a measure of what the filing did.
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Afcons Infrastructure's board, meeting on September 25, 2025, approved several key items. Two new directors were appointed: Mr. Santosh Balachandran Nayar, a veteran banker (ex-SBI Deputy MD and ex-IIFCL CMD), as an Independent Director for a 5-year term, and Mr. Firoz Cyrus Mistry, a 29-year-old Yale-educated next-generation member of the Shapoorji Pallonji promoter family, as a Non-Executive Non-Independent Director. Mr. Udai Veer Singh, EVP (Operations) and a key figure in the Chenab Bridge project, was reclassified as Senior Management Personnel. The board also approved the ESOP 2025 plan, creating a pool of 1,83,89,232 stock options (with up to 20% discount to market price at grant), subject to shareholder approval. Additionally, the company approved the private placement of 5,000 unsecured listed redeemable NCDs of Rs 1 lakh each, totalling Rs 50 crore, with a 3-year tenure, to be listed on NSE.
The board additions bring a highly experienced banker and the next-gen Mistry family member into governance, which may boost investor confidence. The Rs 50 crore NCD raise is modest, and the ESOP pool represents a future dilution of up to 1.84 crore shares pending shareholder approval.