Afcons Infrastructure IPO
Open MainLineCurrent GMP
₹15 (+3.24%)
Price Band
₹ 440 – 463
Lot Size
32
Issue Size
₹5430 Cr
Minimum Investment
₹14816 (32 Shares)
Listing Date
04 November 2024
Subscription
2.63x
About the Company
Afcons Infrastructure Limited is the flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji Group, with a legacy spanning over 60 years. It has earned recognition as one of India's largest international infrastructure companies, based on international revenue in 2023, and has completed 79 projects across 17 countries with a historic contract value of ₹563.05 billion. As of mid-2024, the company manages 65 active projects across 12 countries, with an order book worth ₹317.47 billion.
Afcons specializes in five major infrastructure sectors:
- Marine and Industrial – Ports, harbors, LNG tanks, and more.
- Surface Transport – Highways, roads, railways, and mining infrastructure.
- Urban Infrastructure – Metro works, bridges, and elevated corridors.
- Hydro and Underground – Dams, tunnels, and water-related projects.
- Oil and Gas – Offshore and onshore projects.
The company stands out for its expertise in project management and knowledge systems, winning multiple awards like the MIKE award for innovative knowledge management. Afcons also has a strong equipment base, enabling them to undertake complex projects such as the Atal Tunnel and the Delhi Metro.
Afcons benefits from the Shapoorji Pallonji Group’s legacy and global presence, which bolsters its business growth and strategic collaborations. The company also prioritizes environmental, social, and governance (ESG) practices, with measures in place to reduce energy consumption and recycle wastewater.
Promoters
The promoters of the Company are
- Goswami Infratech Private Limited
- Shapoorji Pallonji and Company Private Limited
- Floreat Investments Private Limited
Promoters Holding
Holding Pre Issue
99.48%
Holding Post Issue
0.00%
Objects of the Issue
The Company proposes to utilise the Net Proceeds towards funding the following objects:
- Capital expenditure towards purchase of construction equipment
- Funding long term working capital requirements
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by the Company
- General corporate purpose
Address / Contact Info
Afcons Infrastructure Limited
Afcons House, 16 Shah Industrial Estate,
Veera Desai Road, Andheri (West), Mumbai,
Maharashtra, 400053,India
Phone: 022 67191214
Email: gaurang@afcons.com
Website: https://www.afcons.com/en
IPO Snapshot
IPO Timeline (Tentative)
IPO Open Date
Friday, 25 October 2024
IPO Close Date
Tuesday, 29 October 2024
Basis of Allotment
Wednesday, 30 October 2024
Initiation of Refunds
Thursday, 31 October 2024
Credit of Shares to Demat
Thursday, 31 October 2024
Listing Date
Monday, 04 November 2024 — NSE & BSE
Important Dates
Open Date
25 October 2024
Close Date
29 October 2024
Basis Of Allotment
30 October 2024
Listing Date
04 November 2024
Financial Performance (₹ in Crores)
| Particular | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
|---|---|---|---|---|
| Assets | 17184.58 | 16233.64 | 14301.25 | 12973.77 |
| Revenue | 3213.47 | 13646.88 | 12844.09 | 11269.55 |
| Profit After Tax | 91.59 | 449.76 | 410.86 | 357.61 |
| Net Worth | 3662.25 | 3575.05 | 3155.06 | 2691.03 |
| Reserve & Surplus | 3342.52 | 3255.22 | 2653.75 | 2190.11 |
| Total Borrowings | 3365.1 | 2455 | 1562.82 | 1555.2 |
EPS Pre
13.20%
EPS Post
9.96%
P/E Pre
35.08
P/E (Post Issue)
46.48x
Company Financial Information
KPI Information (₹ in Crores)
| Particular | KPI as of June 30, 2024. |
|---|---|
| ROE % | 10.55 |
| ROCE % | 14.89 |
| Debt / Equity | 0.91 |
| RoNW % | 2.5 |
| PbW | 4.31 |
| Pat Margin % | 2.85 |
Return Ratio
IPO Reservations
| Category | Shares Offered | Shares Offered % | Max Allotee |
|---|---|---|---|
| Anchor Investors | 35021597 | 36.35 | 0 |
| Qualified Institutions | 2347733 | 2.44 | 0 |
| Non-Institutional | 17510799 | 18.18 | 0 |
| BNII | 11673866 | 12.12 | 26057 |
| SNII | 5836933 | 6.06 | 13028 |
| Retail Investors | 40858531 | 42.41 | 1276829 |
| Employees | 596659 | 0.62 | 0 |
| Total | 96335319 | 100 | 0 |
Subscription Status ( Tue, 29 Oct 24 01:19 PM)
| Category | Shares Offered | Shares Bid For | Subscription (x) |
|---|---|---|---|
| Qualified Institutions | 24568181 | 93144800 | 3.79x |
| Non-Institutional | 18426137 | 93047232 | 5.05x |
| BNII | 12284092 | 77450400 | 6.3x |
| SNII | 6142045 | 15596832 | 2.54x |
| Retail Investors | 42994319 | 40574752 | 0.94x |
| Employees | 631313 | 1055712 | 1.67x |
| Total | 86619950 | 227822496 | 2.63x |
Subscription figures are updated periodically and may change until issue closing. Data reflects bids placed across exchanges.
Peer Comparision
No Peer Comparision Available
Lot Size & Investment Details
| Application | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 32 | 14,816.00 |
| Retail (Max) | 13 | 416 | 192,608.00 |
| S-HNI (Min) | 14 | 448 | 207,424.00 |
| S-HNI (Max) | 67 | 2,144 | 992,672.00 |
| B-HNI (Min) | 68 | 2,176 | 1,007,488.00 |
Registrar
MUFG Intime India Private Limited ((Link Intime)
91-22-4918 6270
ipo.helpdesk@in.mpms.mufg.com
https://in.mpms.mufg.com/home.html
Book Running Lead Managers
- Jefferies India Private Limited
- ICICI Securities Limited
- Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
- Nomura Financial Advisory And Securities (India) Pvt Ltd
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
RHP Document
DRHP Document
Disclaimer: This data is for informational purposes only and does not constitute investment advice. Figures shown are illustrative sample data.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
Afcons Infrastructure IPO is a Book-building IPO worth ₹5430 crores. The price band is ₹440 to 463 per share. The IPO opens on Fri, Oct 25, 2024 and closes on Tue, Oct 29, 2024. It will be listed on BSE and NSE. MUFG Intime India Private Limited ((Link Intime) is the registrar.
The Afcons Infrastructure IPO opens on Fri, Oct 25, 2024 and closes on Tue, Oct 29, 2024
Afcons Infrastructure IPO Price Band is ₹440 to 463.
Afcons Infrastructure IPO lot size is 32, and the minimum amount required for application is ₹14816.
The minimum investment for Afcons Infrastructure IPO is approximately ₹14816 based on the upper price band.
To apply for the Afcons Infrastructure IPO, investors can use the ASBA (Application Supported by Blocked Amount) process via their bank's net banking or apply through UPI using a registered broker or trading app. The IPO is available in retail, HNI, and institutional investor categories. Investors must select the lot size, enter bid details within the price band, and submit their application before the IPO closing date of Tue, Oct 29, 2024. After submission, funds are blocked until the basis of allotment of Afcons Infrastructure IPO is finalised.
Afcons Infrastructure IPO issue size is ₹5430 crores.
Afcons Infrastructure IPO allotment date is Sat, Jun 27, 2026.
The registrar for Afcons Infrastructure IPO is MUFG Intime India Private Limited ((Link Intime). Investors can go to MUFG Intime India Private Limited ((Link Intime) website for IPO allotment status, refund processing, and other queries related to Afcons Infrastructure IPO through their official website or helpline.
The Afcons Infrastructure IPO GMP (Grey Market Premium) is ₹15 as of Mon, Nov 4, 2024. Based on the upper price band of ₹463 per share, the estimated Afcons Infrastructure IPO listing price is ₹478, indicating a potential listing gain of approximately 31% over the issue price.