Afcons History

1959 - Born as Rodio Hazarat Co, a partnership between Rodio Foundation, Switzerland and Hazarat & Co., India

1976 - Consequent to the exit of Rodio Foundation Engineers and Hazarat & Co, renamed as Asia Foundations and Construction Limited wherein from a partnership it became a closely held private limited Company with equity shares distributed to the employees

1977 - Became a deemed public limited Company

1993 - Shipping Credit and Investment Corporation of India (SCICI) became a 20% shareholder, which shareholding was transferred to ICICI pursuant to the merger of SCICI with ICICI

1997 - Became a full-fledged public limited Company by the name of “Afcons Infrastructure Limited”. In 1998 ICICI subscribed to further shares in the Company, which made ICICI the single largest shareholder with 47.37% equity stake in our Company.

2000 - Shapoorji Pallonji Group acquired 53.96% shareholding in our Company in 2000 where 47.37% was acquired from ICICI Ltd. and 6.59% was acquired from the Hazarat family.