Afcons Infrastructure IPO 2024 Highlights: Shapoorji Pallonji Group’s Afcons Infrastructure IPO opened on October 25. The company aims to raise Rs 5,430 crore. The issue consists of two components- issuance of fresh shares as well as an offer for sale. It will be closed on October 29.
The IPO price band is in the range of Rs 440- 463 per equity share. The allotment of shares is likely to be finalised on October 30 by the registrar of the issue. The listing on NSE and BSE is likely to be finalised on November 04. A retail buyer needs a minimum investment of Rs 14,816 to bid for a lot of 32 shares, and then in its multiple.
Founded in 1959, Afcons Infrastructure Limited is a prominent engineering and construction company within the Shapoorji Pallonji Group, boasting a legacy of over six decades.
As of September 30, 2023, Afcons has completed 76 projects across 15 countries, with a total executed contract value of ₹522.20 billion. The company currently manages 67 active projects in 13 countries, resulting in a robust order book valued at ₹348.88 billion.
With operations spanning Asia, Africa, and the Middle East, Afcons Infrastructure focuses on five key business verticals in the infrastructure sector.
As of October 27, 2024, at 12:00 PM, the latest gray market premium (GMP) for the Afcons Infrastructure IPO is Rs 19. Given the price band of Rs 463.00, the estimated listing price for the IPO is projected at Rs 482, which includes today's GMP. This indicates an expected percentage gain of 4.10% per share upon listing.
Bidding for the Afcons Infrastructure IPO began on October 25, 2024, and will close on October 29, 2024. Allotment results are expected to be finalized on Wednesday, October 30, 2024. The shares will be listed on both BSE and NSE, with a tentative listing date scheduled for Monday, November 4, 2024.
As of June 30, 2024, and 2023, the order book was valued at Rs 317,474.27 million and Rs 352,402.15 million, respectively. On March 31 of 2024, 2023, and 2022, the order book stood at Rs 309,609.90 million, Rs 304,057.67 million, and Rs 328,048.34 million, respectively.
This order book has contributed significantly to their strong financial performance. For the three-month periods ending June 30 in both 2024 and 2023, as well as for the fiscal years 2024, 2023, and 2022, their operational revenue was Rs 31,543.60 million, Rs 31,714.13 million, Rs 132,674.95 million, Rs 126,373.82 million, and Rs 110,189.66 million, respectively.
The initial public offer (IPO) of Afcons Infrastructure has been subscribed 10% on its first day, according to BSE data.
The offer received bids for 8,606,560 shares out of 86,619,950 shares available. The retail investor portion saw a 14% subscription, while the non-institutional investor quota was 11% subscribed. Qualified institutional buyers (QIBs) accounted for 1% of the subscriptions, and the employee segment was notably subscribed at 39%.
Founded in 1959, Afcons Infrastructure Limited is a leading engineering and construction firm within the Shapoorji Pallonji Group, with a legacy spanning over six decades.
As of September 30, 2023, Afcons has successfully completed 76 projects in 15 countries, with a total executed contract value of ₹522.20 billion. The company currently has 67 active projects across 13 countries, contributing to a strong order book worth ₹348.88 billion.
Afcons Infrastructure operates globally, with a presence in Asia, Africa, and the Middle East, and encompasses five key infrastructure business verticals.
The allotment of shares for the Afcons Infrastructure IPO, valued at Rs 5,430 crore, is set to be finalized on October 30, 2024, with an expected listing date of November 4, 2024. Applicants for the Afcons Infrastructure public issue can check their allotment status online on the official registrar’s website.
Founded in 1959, Afcons Infrastructure Limited is a prominent infrastructure engineering and construction company within the Shapoorji Pallonji Group, boasting a legacy that spans over six decades.
As of September 30, 2023, Afcons has successfully completed 76 projects across 15 countries, with a total executed contract value of Rs 522.20 billion. Currently, the company has 67 active projects in 13 countries, contributing to a robust order book of Rs 348.88 billion.
Afcons Infrastructure has a global footprint, with operations in Asia, Africa, and the Middle East, and it encompasses five major infrastructure business verticals.
As of October 27, 2024, at 12:00 PM, the last gray market premium (GMP) for the Afcons Infrastructure IPO stands at Rs 19. With a price band of Rs 463.00, the estimated listing price for the IPO is projected to be Rs 482, reflecting the cap price plus today's GMP. This results in an expected percentage gain of 4.10% per share upon listing.
The allotment status for the Afcons Infrastructure IPO is currently unavailable. Updates will be provided once the basis of allotment is finalized. Please check back for the latest information regarding Afcons Infrastructure Limited IPO allotment status.
How to Check Afcons Infrastructure IPO Allotment Status:
The bidding for the Afcons Infrastructure IPO commenced on October 25, 2024, and will close on October 29, 2024. Allotment results are anticipated to be finalized on Wednesday, October 30, 2024. The shares will be listed on BSE and NSE, with a tentative listing date set for Monday, November 4, 2024.
Afcons Infrastructure's IPO, valued at Rs 5,430 crore, is structured as a book-built issue. This includes a fresh issue of 2.7 crore shares amounting to Rs 1,250 crore, along with an offer for sale of 9.03 crore shares totaling Rs 4,180 crore.
The Afcons Infrastructure IPO saw a subscription rate of 0.10 times overall by October 25, 2024, the end of Day 1. In detail, the public issue was subscribed 0.14 times in the retail category, 0.01 times in the Qualified Institutional Buyer (QIB) segment, and 0.11 times in the Non-Institutional Investor (NII) category.
Afcons Infrastructure has already secured Rs 1,621.50 crore from anchor investors before the public subscription. Investors can continue to place bids in multiples of 32 shares during the IPO period.
On the first day of its IPO, Afcons Infrastructure saw a subscription rate of 0.14 times. The public issue received a 0.15 times subscription in the retail category, 0.11 times in the Qualified Institutional Buyer (QIB) category, and 0.12 times in the Non-Institutional Investor (NII) category.
Afcons Infrastructure has a strong international presence, particularly in Asia, Africa, and the Middle East. The company operates through five major infrastructure business verticals, covering various sectors, including transportation, water, and energy.
As of September 30, 2023, Afcons has completed 76 projects across 15 countries, with a historical executed contract value of ₹522.20 billion. It currently manages 67 active projects across 13 countries, with a total order book valued at Rs 348.88 billion.
Founded in 1959, Afcons Infrastructure Limited is a leading firm specializing in infrastructure engineering and construction. As part of the Shapoorji Pallonji Group, it carries a legacy spanning over 60 years, contributing to large-scale infrastructure projects globally.
Investors in the Afcons Infrastructure IPO have options based on their category. Retail investors need a minimum of 32 shares, while high-net-worth individuals (HNIs) can invest in higher multiples. This structure allows flexibility in participation across different investor categories.
The IPO price band for Afcons Infrastructure is set between Rs 440 and Rs 463 per equity share. For retail investors, a minimum investment of Rs 14,816 is required to bid for one lot consisting of 32 shares. Investments can be made in multiples of 32 shares.
The Afcons Infrastructure IPO, part of the Shapoorji Pallonji Group, was launched on October 25, 2024. The company aims to raise Rs 5,430 crore through this public issue. The IPO includes a mix of fresh shares issuance and an offer for sale, with a closing date set for October 29, 2024.
Investors can bid for a minimum of 32 shares and in multiples thereof. The table below outlines the minimum and maximum investment amounts for retail investors and high-net-worth individuals (HNIs) in terms of shares and corresponding amounts.
Founded in 1959, Afcons Infrastructure Limited is a leading infrastructure engineering and construction firm that is part of the Shapoorji Pallonji Group, boasting a legacy spanning over six decades.
As of September 30, 2023, Afcons has successfully completed 76 projects across 15 countries, with a total historical executed contract value of ₹522.20 billion. The company currently has 67 active projects in 13 countries, resulting in an order book totaling ₹348.88 billion.
Afcons operates globally, with a presence in Asia, Africa, and the Middle East, and is structured around five major infrastructure business verticals.
Afcons Infrastructure IPO subscribed 0.14 times. The public issue subscribed 0.15 times in the retail category, 0.11 times in QIB, and 0.12 times in the NII category by October 25, 2024 (Day 1).
Afcons Infrastructure's IPO secures Rs 1,621.50 crore from anchor investors.
Investors can place bids for a minimum of 32 shares and in multiples thereafter. The table below illustrates the minimum and maximum investment amounts for both retail and high-net-worth individual (HNI) investors, detailing their respective share requirements and monetary investments.