Afcons Infrastructure IPO
GMP, Subscription, Price, Dates & Financial Details
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…
Open Date
Fri, 25 Oct 2024
Close Date
Tue, 29 Oct 2024
Price Band
₹ 440 – 463
Lot Size
32
Issue Size
₹ 5,430.00 Cr
Minimum Investment
₹ 14,816 (32 Shares)
Grey Market Premium Analysis
Day Wise GMP→Unofficial premium quoted in the grey market, tracked daily against the price band cap.
Grey market trading is unregulated. GMP figures are indicative only and should not be the sole basis for investment decisions - treat as a sentiment indicator, not a guarantee.
IPO Details
Afcons Infrastructure IPO has successfully completed its IPO process and is now listed on the NSE and BSE. According to the Red Herring Prospectus (RHP), the IPO was a book-built issue with a total issue size of ₹5,430.00 Crore, comprising a fresh issue of 2.70 Crore equity shares aggregating to ₹1,250.00 Crore and an offer for sale (OFS) of 9.03 Crore equity shares aggregating to ₹4,180.00 Crore by the existing shareholders.
The Afcons Infrastructure IPO remained open for subscription from October 25, 2024, to October 29, 2024. The basis of allotment was finalized on October 30, 2024, and the company's shares were listed on the NSE and BSE on November 04, 2024.
The company had fixed the price band at ₹440 to ₹463 per share, with a lot size of 32 shares. Retail investors were required to make a minimum investment of ₹14,816 (based on the upper price band) to apply for one lot.
MUFG Intime India Private Limited served as the registrar to the issue. 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, and SBI Capital Markets Limited acted as the Book Running Lead Managers (BRLMs) to the issue.
With the successful completion of the IPO process, Afcons Infrastructure Limited is now a publicly listed company on the NSE and BSE. Investors can track the company's share price, trading performance, financial results, and corporate announcements through the stock exchanges.
Afcons Infrastructure IPO Timeline (Tentative)
- IPO Open Date
- Fri, 25 Oct 24
- IPO Close Date
- Tue, 29 Oct 24
- Basis of Allotment
- Wed, 30 Oct 24
- Initiation of Refunds
- Thu, 31 Oct 24
- Credit of Shares to Demat
- Thu, 31 Oct 24
- Listing Date
- Mon, 04 Nov 24 — NSE & BSE
Open Date
25 October 2024
Close Date
29 October 2024
Basis Of Allotment
30 October 2024
Listing Date
04 November 2024
IPO Subscription
Check Live Subscription →The Afcons Infrastructure IPO has received bids for 22,78,22,496 shares against 8,66,19,950 shares offered, resulting in an overall subscription of 2.63x. the NII category is subscribed 5.05x, Retail Investors 0.94x, Employees 1.67x, and QIBs 3.79x. Within the NII category, BNII is subscribed 6.3x, while SNII is subscribed 2.54x.
QIB
3.79x
NII
5.05x
BNII
6.3x
SNII
2.54x
RII
0.94x
EMP
1.67x
Total
2.63x
IPO Reservations
The Retail Individual Investor (RII) category has the highest allocation with 4,08,58,531 shares, representing 42.41% of the total issue. Qualified Institutional Buyers (QIBs) are allocated 23,47,733 shares (2.44%), while Non-Institutional Investors (NIIs) receive 1,75,10,799 shares (18.18%).
| Category | Shares Offered | Shares Offered % |
|---|---|---|
| Anchor Investors | 35,021,597 | 36.35% |
| Qualified Institutions | 2,347,733 | 2.44% |
| Non-Institutional | 17,510,799 | 18.18% |
| BNII | 11,673,866 | 12.12% |
| SNII | 5,836,933 | 6.06% |
| Retail Investors | 40,858,531 | 42.41% |
| Employees | 596,659 | 0.62% |
| Total | 96,335,319 | 100% |
Financials Details(₹ 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 |
Financials Performance
Performance Indicators
EPS Pre
Earnings per share before the IPO.
P/E Pre
IPO Offer Price ÷ EPS Pre.
EPS Post
Expected earnings per share after the IPO..
P/E (Post Issue)
IPO Offer Price ÷ EPS Post.
Afcons Infrastructure Limited KPI Information
| 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 |
Peers Comparison
No Peer Comparision Available
About Afcons Infrastructure Limited
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.
Afcons Infrastructure IPO 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%
Afcons Infrastructure IPO Objective
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
Afcons Infrastructure Limited Address / Contact Details
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
Afcons Infrastructure IPO Lot Size
The Afcons Infrastructure IPO has a lot size of 32 shares. Retail investors require a minimum investment of ₹14,816 by applying for 1 lot (32 shares). The maximum application allowed for the retail category is 13 lots (416 shares), requiring an investment of ₹1,92,608.
| 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 |
Issue Reservation
- Anchor Investors — 36.35%
- QIB — 2.44%
- NII — 18.18%
- RII — 42.41%
- EMP — 0.62%
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
IPO Documents & Links
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Disclaimer: This data is for informational purposes only and does not constitute investment advice.
Frequently Asked Questions
Everything you need to know before applying to an IPO.
What is the Afcons Infrastructure IPO?
Afcons Infrastructure IPO is a Book-building IPO with a total issue size of ₹5430 crore. The Afcons Infrastructure IPO price band is ₹440 to 463 per share. The Afcons Infrastructure IPO subscription opens on Fri, Oct 25, 2024, and closes on Tue, Oct 29, 2024. The Afcons Infrastructure IPO will be listed on the BSE,NSE. MUFG Intime India Private Limited is the registrar for the Afcons Infrastructure IPO.
When will the Afcons Infrastructure IPO open for subscription?
The Afcons Infrastructure IPO opens on Fri, Oct 25, 2024 and closes on Tue, Oct 29, 2024
What is Afcons Infrastructure IPO Price Band?
Afcons Infrastructure IPO Price Band is ₹440 to 463 per share.
What is Afcons Infrastructure IPO Lot Size?
Afcons Infrastructure IPO lot size is 32 shares, Retail investors need a minimum investment of ₹14816 based on the upper price band
What is the minimum investment for Afcons Infrastructure IPO?
The minimum investment for Afcons Infrastructure IPO is ₹14816, based on one lot of 32 shares at the upper price band of ₹463 per share.
How to apply for Afcons Infrastructure IPO?
Investors can apply for the Afcons Infrastructure IPO through the ASBA (Application Supported by Blocked Amount) facility offered by their bank or through UPI using a SEBI-registered broker or trading app. Select the desired lot size, enter your bid within the price band, and submit the application before Tue, Oct 29, 2024. The application amount remains blocked until the Afcons Infrastructure IPO allotment is finalized.
What is Afcons Infrastructure IPO Issue Size?
Afcons Infrastructure IPO issue size is ₹5430 crores.
What is the Afcons Infrastructure IPO Allotment Date?
Afcons Infrastructure IPO allotment date is Wed, Oct 30, 2024.
Who is the Afcons Infrastructure IPO Registrar?
The registrar for Afcons Infrastructure IPO is MUFG Intime India Private Limited. Investors can go to MUFG Intime India Private Limited website to check Afcons Infrastructure IPO allotment status, refund processing, and other IPO-related information.
What is the Afcons Infrastructure IPO GMP?
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 3.24% over the issue price.
Who is the Afcons Infrastructure IPO Lead Manager?
The book-running lead managers (BRLMs) for the Afcons Infrastructure IPO are 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, and SBI Capital Markets Limited. The lead managers are responsible for managing the IPO process, including issue structuring, regulatory compliance, marketing the public issue, coordinating with investors, and ensuring a smooth listing process. For complete details, investors should refer to the Afcons Infrastructure IPO Red Herring Prospectus (RHP).