Afcons Infra IPO closes today: Check GMP, subscription status, & more

The initial public offering (IPO) of Shapoorji Pallonji Group's Afcons Infrastructure is set to conclude today. The public issue, which opened for subscription on Friday, October 25, 2024, has so far received a subdued response from investors, with bids for 5,53,77,664 shares against an offering of 8,66,19,950 shares, translating into a subscription rate of 0.64 times by 10:45 AM on Tuesday. 

 

Non-Institutional Investors (NIIs) have placed the highest bids for the Afcons Infrastructure IPO, with their quota oversubscribed by 1.43 times, followed by retail investors at 0.44 times and Qualified Institutional Buyers (QIBs) at 0.37 times. Meanwhile, the employee reserve quota has been fully subscribed 1.19 times, according to NSE data.  ALSO READ: Wait Over! Swiggy IPO to open post Diwali: Key details for investors

 

Meanwhile, the grey market premium (GMP) of the unlisted shares of Afcons Infrastructure has shown an uptick on the final subscription day of its IPO. Sources tracking grey market activities reveal that Afcons Infrastructure shares are trading at a premium of Rs 40, translating to a GMP of 8.64 per cent against the upper end of the IPO price of Rs 463.

 

With this IPO, Afcons Infrastructure seeks to raise Rs 5,430 crore. The IPO, which comprises a fresh issue of 2,69,97,840 shares and an offer for sale of 9,02,80,778 shares with a face value of Rs 1 each, is available at a price band of Rs 440-463 with a lot size of 32 shares. Investors can bid for a minimum of 32 shares and in multiples thereof.

 

The public issue is expected to close today. The basis of allotment of the company’s shares is likely to be finalised on Wednesday, October 30, 2024.

 

Shares of Afcons Infrastructure are expected to list on the BSE and NSE on Monday, November 4, 2024. Link Intime India is the registrar for the Afcons Infrastructure IPO.

 

The book-running lead managers of the public issue include Jefferies India, Nomura Financial Advisory and Securities (India), Nuvama Wealth Management, ICICI Securities, DAM Capital Advisors, and SBI Capital Markets.

 

Several brokerages, including Anand Rathi Research and Geojit, have shared their reviews for the Afcons Infrastructure IPO. READ MORE

 

About Afcons Infrastructure  

Afcons Infrastructure, part of Shapoorji Pallonji Group, is a leading Indian construction company. Founded in 1959, the company specialises in transportation, energy, industrial, marine, and building projects. The company boasts a strong track record of executing numerous complex, challenging, and unique engineering, procurement, and construction (EPC) projects both within India and internationally.