Afcons Infrastructure IPO 2024 Highlights: Check latest GMP, Allotment status, listing date, Price Band & more

Afcons Infrastructure has announced its IPO price band, ranging from Rs 440 to Rs 463 per share, with a minimum lot size set at 32 shares. Retail investors can apply with a minimum investment of Rs 14,816. For small Non-Institutional Investors (sNII), the minimum required investment stands at 14 lots, or 448 shares, amounting to Rs 2,07,424. Meanwhile, big Non-Institutional Investors (bNII) must apply for a minimum of 68 lots, or 2,176 shares, with a total investment requirement of Rs 10,07,488.

Afcons Infrastructure’s initial public offering (IPO) is backed by a robust promoter holding structure. Key promoters—Goswami Infratech Private Limited, Shapoorji Pallonji and Company Private Limited, and Floreat Investments Private Limited—held a substantial 99.48% stake in the company pre-IPO. Post-issue, the promoter shareholding is set to adjust slightly with the addition of new investors, while maintaining strong control. This solid backing reflects high confidence in Afcons Infrastructure’s growth potential and strategic direction as it looks to expand its operations and strengthen its market presence through the public offering.

The Afcons Infrastructure IPO, open for subscription from October 25 to 29, 2024, is set with a price band of Rs 440 to Rs 463 per share and a lot size of 32 shares, bringing the minimum application price to approximately Rs 14,816. Aiming to raise around Rs 5,430 crore, the IPO has earmarked 35% of shares for retail investors, equivalent to about 12.76 lakh applications. For high-net-worth investors, there are around 13,000 forms available for small HNIs and 26,000 forms for large HNIs. Each share carries a face value of Rs 10.

1. Visit Link Intime India’s official website: [Link Intime India](https://www.linkintime.co.in/).

2. Click on the ‘Investor Services’ link in the main menu and select ‘Public Issues’.

3. From the list of companies, select ‘Afcons Infrastructure’.

4. Enter any of the following details: Application Number, DP/Client ID, PAN, or Account No/IFSC.

5. Hit the Submit button to view your allotment status.

Afcons Infrastructure Limited has reported robust financial growth in its recent fiscal results for the year ending March 31, 2024. The company achieved a 6% increase in revenue, totaling Rs 13,646.88 million, up from Rs 12,844.09 million in the previous year. Profit After Tax (PAT) also rose by 9%, reaching Rs 449.76 million compared to Rs 410.86 million for the fiscal year ending March 31, 2023.

As of June 30, 2024, Afcons’ total assets increased to Rs 17,184.58 million, a significant rise from Rs 14,301.25 million a year prior. The company’s net worth grew to Rs 3,662.25 million, up from Rs 3,155.06 million in March 2023, while reserves and surplus expanded to Rs 3,342.52 million. Total borrowings rose to Rs 3,365.1 million, reflecting a strategic approach to financing its growth.

Several brokerage firms have provided their assessments of the Afcons Infrastructure IPO. Anand Rathi, Arihant Capital Markets Ltd, BP Equities (BP Wealth), Canara Bank Securities Ltd, Dilip Davda, Geojit Securities Ltd, GEPL Capital Ltd, KR Choksey Securities Ltd, Marwadi Shares and Finance Ltd, Mehta Equities, SMIFS Limited, and Swastika Investmart Ltd have all issued an “Apply” recommendation for the IPO.

In contrast, Capital Market, Cholamandalam Securities Limited, and Nirmal Bang maintain a “Neutral” stance on the offering. Meanwhile, Axis Capital, HDFC Securities Limited, JM Financial Services Limited (JMFS), SBICAP Securities Limited, and Systematix Shares and Stocks (India) Limited have categorized the IPO as “Not Rated.”

The book-running lead managers for the Afcons Infrastructure IPO include ICICI Securities, Dam Capital Advisors (formerly IDFC Securities), Jefferies India, Nomura Financial Advisory and Securities (India), Nuvama Wealth Management, and SBI Capital Markets.

Afcons Infrastructure IPO sees a sharp slip in GMP ahead of the allotment finalisation date. The allotment for Afcons will be finalised today and the investors would get an alert through their linked accounts.

The Afcons Infrastructure IPO‘s grey market premium (GMP) today stands at +40, indicating that the shares are trading at a premium of Rs 40 in the grey market, according to investorgain.com.

Afcons Infrastructure is offering its shares in a price band of Rs 440-463 each. Investors can apply for a minimum of 32 shares, with further applications in multiples of 32. The company aims to raise Rs 5,430 crore through the IPO, which includes a fresh share sale of Rs 1,250 crore and an offer-for-sale (OFS) of up to Rs 4,180 crore.

Afcons Infrastructure’s initial public offering (IPO) received a strong subscription of 2.63 times on the final day of bidding, October 29. According to NSE data, the share sale garnered bids for 22.78 crore shares against the 8.66 crore shares available.

The non-institutional investor (NII) portion saw a particularly high subscription rate of 5.05 times, while the retail individual investors (RIIs) segment was subscribed at 94%. The qualified institutional buyers (QIBs) portion received a subscription of 3.79 times, and employees subscribed to 1.67 times their reserved shares.