Afcons Infrastructure IPO: Issue subscribed 28% so far; check price band, lot size, timeline and key details

Afcons Infrastructure IPO saw a lukewarm demand from investors across categories on the second day of bidding so far on Monday, October 28. The issue was booked only 28% till 3:45 pm.

Afcons Infrastructure IPO received bids for 86.61 lakh shares against 2.43 crore shares on offer.

The retail portion was booked 34%. The non-institutional investors (NII) booked their quota 44%, while the qualified institutional buyers (QIBs) category was subscribed just 3%.

Afcons Infrastructure IPO: Offer size and price band

Afcons Infrastructure aims to raise ₹5,430 crore via the public issue. The IPO consists of a fresh issuance of 2.7 crore shares, amounting to ₹1,250 crore, along with an offer-for-sale (OFS) of 9.03 crore shares, aggregating to ₹4,180 crore. The price band has been fixed at ₹440 to ₹463 per share.

Retail investors can apply for the issue by placing bids for a minimum of 32 shares which aggregates to an investment of ₹14,816.

Small Non-Institutional Investors (sNIIs) can apply for the issue by placing bids for a minimum of 14 lots or 448 shares which amounts to an investment of ₹2,07,424. Big Non- Institutional Investors (bNIIs) can bid for 68 lots or 2,176 shares translating to an investment of ₹10,07,488.

Afcons Infrastructure IPO dates

Afcons Infrastructure IPO subscription will close on Tuesday, October 29.

The share allotment status is likely to be finalised on Wednesday, October 30.

Subsequent to finalising the share allotment status of the public issue, refunds will be initiated for unsuccessful bidders on Thursday, October 31. Successful bidders will also receive shares of Afcons Infrastructure in their Demat accounts the same day.

Shares of Afcons Infrastructure will be listed on the NSE and BSE on Monday, November 4.

Afcons Infrastructure key financials

Afcons Infrastructure’s revenue for Q1FY25 stood at ₹3,213.47 crore, and its Profit-After-Tax (PAT) stood at ₹91.59 crore. The company posted a net worth of ₹3,662.25 crore at the end of the June quarter of FY25.

The revenue for FY24 increased by 6% to ₹13,646.88 crore compared to ₹12,844.09 crore in FY23. The company’s PAT for the fiscal ended March 31, 2024, grew more than 9% to ₹449.76 crore compared to ₹410.86 crore in the preceding fiscal. Its net worth also increased more than 13% to ₹3,575.05 crore from ₹3,155.06 crore in the preceding fiscal.

Afcons Infrastructure IPO Registrar

The registrar for the mainboard issue is Link Intime India Private Ltd. The book-running lead managers for the public issue are 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.

Afcons Infrastructure IPO objective

The company plans to use the issue proceeds to purchase construction equipment and fund long-term working capital requirements. The proceeds will also be used to repay the company’s outstanding borrowings and for general corporate purposes.

About Afcons Infrastructure

Afcons Infrastructure Limited was incorporated in 1959. The company is engaged in the infrastructure engineering and construction industry. Afcons Infrastructure is a part of the Shapoorji Pallonji group. The company’s operations are spread across Asia, Africa and the Middle East.