Afcons Infrastructure Share Price, IPO Listing 2024 Highlights: Afcons Infrastructure, a subsidiary of the Shapoorji Pallonji Group, lists at Rs 426 on the National Stock Exchange, a discount of 8% to the issue price. The counter closed the trade 11% higher from its listing price at Rs 472.60. The company’s IPO successfully raised Rs 5,430 crore, which includes a fresh issue of 2.7 crore shares amounting to Rs 1,250 crore and an offer for sale of 9.03 crore shares valued at Rs 4,180 crore. The company kept 596,659 shares for the employees. These shares were offered to the employees at a discount of Rs 44 to the issue price.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infra closes 11% higher
Afcons Infrastructure's shares ended 11% higher at Rs 472.60 from its listing price. Shapoorji Pallonji Group's company was listed at a discount of 8% to Rs 426. The company hit the secondary market on November 04.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Strengths of Afcons Infra
Earlier, the company carried out large and complex projects. It has attempted many 'first of its kind' infrastructure projects into just in India but worldwide. As the company aims for large and complex projects, it provides better profit margins than less complex projects due to few competitors.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Key risks for Afcons Infra
The company is significantly dependent on projects by the government or government-related parties. If it fails to bid for such projects business may get affected. Also, it operates in a capital-intensive industry and has utilised working capital demand loans from banks worth Rs 1,594 crore.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infra at day's high
Shares of Afcons Infrastricture rises 11.4% to an intraday high of Rs 474.70 from its listing price. The company hit the D-Street at a price of Rs 426, a discount of 8% to the issue price. The company opened its IPO on October 25 and closed on October 30.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Mehta Equities Gives Target of Rs 500 for Afcons Infrastructure
Despite Afcons Infrastructure's listing falling below the issue price, market analysts maintain a positive outlook on the company's long-term growth potential. Tapse emphasized that the investment rationale is supported by a robust order book, a proven track record in executing complex Engineering, Procurement, and Construction (EPC) projects both domestically and internationally, and stable financial performance over the years. He highlighted the efficiency of the management team as a key factor in driving the company to greater heights.
For investors who received allotments, Tapse recommends holding shares for the long term, citing the government's focus on infrastructure development as a significant growth driver. He also suggests that short-term traders consider holding or accumulating shares on dips, with a target price set between Rs 480 and Rs 500.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infrastructure Sees Strong Buying Interest After Lackluster Debut
Afcons Infrastructure's shares had a subdued start on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) but later attracted significant buying interest from investors. The stock debuted at Rs 430.05 on the BSE and opened at Rs 426 on the NSE. Despite the initial weak performance, Afcons Infrastructure's shares rebounded, reaching an intraday high of Rs 461.70 on the NSE, as market bulls stepped in to capitalize on the stock's potential.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Mehta Equities' take on Afcons Infra post listing
"Afcons Infrastructure discount listing was in line with our expectations driven by market sentiments and lower than expected subscription. The subdued demand for IPO offer was mainly on the back of higher OFS by parent which is facing a challenging phase marked by significant debt and family business restructuring. The fund raised will help the parent better manage obligations, debt crisis in the other group companies. This objective was a hurdle for short term investors to bid aggressively," said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infrastructure to Be Listed Under ‘B’ Group of Securities on BSE
As per a notice from the BSE, Afcons Infrastructure will be listed under the ‘B’ Group of Securities. The company will also participate in a Special Pre-open Session (SPOS) prior to the commencement of general trading.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infra's shares up 8%
Shares of Afcons Infrastructure rose 8.5% to an intraday high of Rs 462.30 after listing at Rs 426. It is listed at a discount of 8% to the issue price. The stock fell as much as Rs 420.25 on November 04.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infrastructure shares gain over 7% post listing
Afcons Infrastructure shares traded higher after debuting on the stock exchanges today. By 11 a.m., the stock was up 7.51% at Rs 458 on the NSE and gained 6.49% on the BSE, reaching Rs 457.95. The shares were initially listed at Rs 426 on the NSE and Rs 430.05 on the BSE.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Mehta Equities on Afcons Infra post listing
"Despite the listing below issue price, we remain optimistic about the business's long-term growth. Long term rationale to invest and hold is justified mainly on the back of a Healthy order book supporting its future growth, strong Track record of executing complex, challenging and unique EPC projects both within India and internationally and Stable financial performance over the years along with a capable efficient management team to take the company to newer heights. For allotted investors, we recommend holding it for the long term as we believe long-term growth is intact with Govt focus on infrastructure growth. Short-term traders and investors can hold/accumulate more on dips with a target near Rs 480-500," said Prashanth Tapse, Senior Vice President of Research at Mehta Equities.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: All About Afcons Infra
The Afcons Infrastructure IPO, which was open for subscription from Friday, October 25, to Tuesday, October 29, is set to list today, November 4, on both the BSE and NSE. The IPO price band was set at Rs 440 to Rs 463 per share, with the company raising Rs 5,430 crore at the upper end. This comprised a fresh issue of 2.7 crore shares worth Rs 1,250 crore and an offer for sale of 9.03 crore shares totaling Rs 4,180 crore. The IPO allotment was finalized on October 30.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Expert views on Afcons Infra share
Prashanth Tapse, Senior Vice President of Research at Mehta Equities Ltd, forecasts a flat or potentially discounted listing for the Afcons Infrastructure IPO. Citing factors such as lower-than-expected subscription levels, the credit weightage of its parent company, and a currently subdued market sentiment, Tapse expects the IPO to debut within 5% of its issue price, with a strong possibility of a negative listing. However, he views this as a potential buying opportunity for long-term investors. For those allotted shares, Tapse advises holding, citing favorable growth prospects due to the government’s infrastructure development focus
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: IPO lists at discount
Afcons Infrastructure was listed at Rs 426 on the National Stock Exchange, a discount of 8% to the issue price. The IPO opened on October 25 and raised Rs 5,430 crore through fresh shares as well as an offer for sale. The IPO bidding closed on October 29. The allotment of shares was finalised on October 30. The company set the IPO price band between Rs 440 and Rs 463 per equity share.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: About Afcons Infra
The company is an infrastructure engineering and construction firm of the Shapoorji Pallonji group, with a legacy of over six decades. It has completed 76 projects across 15 countries with a total historic executed contract value of Rs 52,220 crore. The company is globally present in Asia, Africa, and West Asia.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: IPO details
Shapoorji Pallonji Group’s company’s IPO opened on October 25 and raised Rs 5,430 crore through fresh shares as well as an offer for sale. The IPO bidding closed on October 29. The allotment of shares was finalised on October 30. The company set the IPO price band between Rs 440 and Rs 463 per equity share.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: GMP update
Afcons Infrastructure's shares were fetching a premium of 3.45% in the grey market, indicating a lacklustre listing gain. It is an unofficial place to trade shares illegally ahead of listing.
The Afcons Infrastructure IPO is managed by ICICI Securities, DAM Capital Advisors Ltd, Jefferies India, Nomura Financial Advisory and Securities (India), Nuvama Wealth Management, and SBI Capital Markets as the book-running lead managers. Link Intime India serves as the IPO registrar.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infrastructure Expected Listing Price
Based on the current grey market premium (GMP) for the Afcons Infrastructure IPO, the estimated listing price for the company's shares is Rs 478 each. This reflects a premium of 3.24% over the IPO price of Rs 463 per share.
Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Latest GMP of Afcons Infrastructure
Ahead of its listing, shares of Afcons Infrastructure are trading at a grey market premium (GMP) of Rs 20-25 each in the unofficial market, indicating a potential listing gain of 5-6% for investors. The GMP has shown a notable recovery after previously falling into negative territory, which followed a subdued response during the bidding phase of the IPO.