Afcons Infrastructure Limited IPO Opens on October 25 – Price Band and Key Details to Note

Afcons Infrastructure, the flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji Group, is set to launch its IPO, one of the upcoming IPOs in the market. The Afcons Infrastructure IPO opens for subscription tomorrow, October 25, 2024. Here are key details you should know:

• Open and Close Dates: The Afcons Infrastructure IPO will open for subscription on October 25, 2024, and will close on October 29, 2024.
• Allotment Date: The allotment for the IPO is anticipated to be finalised on Wednesday, October 30, 2024.
• Listing Date: The shares will be listed on the BSE and NSE, with a tentative listing date set for Monday, November 4, 2024.
• Price Band: The price band for the Afcons Infrastructure IPO is set between ₹440 and ₹463 per share, with a minimum application lot size of 32 shares. Retail investors need to make a minimum investment of ₹14,816.
• Offer Size: The IPO is a book-built issue amounting to ₹54,300 million, comprising a fresh issue worth ₹12,500 million and an offer for sale of ₹41,800 million.
• Objects of the Issue: As per the RHP, the proceeds from the fresh issue will be used for capital expenditures towards the purchase of construction equipment, funding long-term working capital requirements, prepaying or repaying certain outstanding borrowings, and for general corporate purposes. 

About Afcons Infrastructure Limited

Established in 1959, Afcons Infrastructure Limited has over 6 decades of experience in the infrastructure engineering and construction sector. Over the past 11 financial years and the three months ending June 30, 2024, the company has completed 79 projects in 17 countries, with a total executed contract value of ₹563.05 billion. As of June 30, 2024, Afcons has 65 active projects across 12 countries, amounting to an order book of ₹317.47 billion. The company has significantly expanded its global presence, particularly in Asia, Africa, and the Middle East. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.