AVP Infracon IPO opens today: Check subscription, price, lot size and other key details

AVP Infracon Limited initial public offer (IPO) opens for subscription on Wednesday, March 13. The ₹52.34-crore book-built issue is an entirely fresh issue of shares without any offer for sale (OFS) component.

The public issue comprises a fresh issue of 69.79 lakh shares of a face value of ₹10 each. The company has set aside not more than 50% of the issue for qualified institutional buyers (QIBs) while the retail investors’ category will see allocation of 35% of the issue size. The remaining 15% has been reserved for the non-institutional investors (NIIs).

AVP Infracon Limited IPO: Important dates, price band, lot size and minimum investment

The AVP Infracon IPO price band has been fixed at a range of ₹71 to ₹75 per share, with a minimum lot size of 1,600 shares. Retail investors are required to invest a minimum of ₹1,20,000 to bid for one lot and in multiples thereafter. For high net worth individuals (HNIs), the minimum lot size is 2 lots or 3,200 shares, amounting to ₹2,40,000.

AVP Infracon IPO share allotment is expected to be finalised on Monday, March 18. The company will initiate refunds to non-allottees on Tuesday, March 19, and the shares are expected to be credited to the demat accounts of successful bidders the same day. AVP Infracon shares are tentatively scheduled to be listed on NSE SME on Wednesday, March 20.

The proceeds of the public issue will be used towards buying capital equipment, meeting working capital needs, and covering public issue expenses. The funds will also be used for general corporate purposes.

D Prasanna and B Venkateshwarlu are the promoters of the company. Currently, the promoter holding in the company is 86.5%. However, post-listing of IPO shares, the promoter equity holding will be diluted to 62.34%.

Share India Capital Services Pvt Ltd has been appointed the book-running lead manager for the IPO. Purva Sharegistry India Pvt Ltd is the registrar for the issue, while Share India Securities is the market maker for the public issue.

About AVP Infracon Limited

Established in 2009, AVP Infracon is a leading infrastructure development firm in the country. Over the past 15 years, the company has completed many big projects including government ones. The company over the years has built its reputation as a dependable construction firm.

AVP Infracon specialises in road construction projects and engineering, procurement and construction (EPC) works. It has a workforce of over 100 employees and contractors.

AVP Infracon's expertise lies in construction, renovation and civil works. It also deals in complex and high-value projects such as expressways, national highways, flyovers, bridges and viaducts, irrigation projects, urban developments and municipal facilities. Since its inception, the firm has completed 40 projects.

AVP Infracon financials

The company's profit-after-tax has jumped significantly in the last three financial years. In FY 2020-21, its PAT stood at ₹1.7 crore. PAT reached ₹12.05 crore in the last fiscal year, FY 2022-23. AVP Infracon Limited's growth trajectory shows its ability to generate profits and also proves that it has potential for further expansion and success in the infrastructure sector.

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