Afcons IPO Opens Today: Did You Subscribe?

Afcons Infrastructure IPO opens for subscription on October 25, 2024 and closes on October 29, 2024. Afcons Infrastructure IPO allotment is likely to be finalised on October 30, 2024. Afcons Infrastructure IPO is a book-built issue of Rs 5,430.00 crore, which is a combination of a fresh issue of 2.7 crore shares aggregating to Rs 1,250.00 crore and an offer for sale of 9.03 crore shares aggregating to Rs 4,180.00 crore.

Afcons Infrastructure IPO price band has been set at ₹440 to ₹463 per share. A retail investor is required to make a minimum investment of ₹14,816 to acquire 1 lot having 32 shares. Afcons Infrastructure has appointed ICICI Securities Limited, Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Pvt Ltd, Nuvama Wealth Management Limited and SBI Capital Markets Limited as the book-running lead managers, while Link Intime India Private Ltd is the registrar for the issue.

On October 25, 2024, at 11:17 AM, Afcons Infrastructure IPO subscribed 0.04 times. The public issue subscribed 0.05 times in the retail category, 0.00 times in QIB, and 0.02 times in the NII category.

At 10:30 AM on October 25, 2024, Afcons Infrastructure IPO GMP stood at ₹50. Afcons Infrastructure IPO’s estimated listing price stood at  ₹513 with a price band of ₹463.00. The expected percentage gain/loss per share is 10.80%.

Afcons Infrastructure Limited was incorporated in 1959. It is an infrastructure engineering and construction company of the Shapoorji Pallonji group, with a legacy of over six decades. The company enjoys a rich global presence across Asia, Africa and the Middle East.

Afcon’s major infrastructure business verticals include:

• Marine and industrial projects
• Surface transport projects 
• Urban infrastructure projects
• Hydro and underground projects 
• Oil and gas projects

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.