Afcons Infrastructure IPO: Check the latest subscription and allotment status
Afcons Infrastructure, a construction and engineering company under the Shapoorji Pallonji group, closed its initial public offer (IPO) on October 29, 2024. The ₹5,430 crore issue was subscribed 2.77 times, and the shares are likely to be allotted to investors today.
Afcons Infrastructure IPO Key Details:
IPO Open Date: October 25, 2024
IPO Close Date: October 29, 2024
IPO Price Band: ₹440 to ₹463 per share
Lot Size: 32 shares
Allotment of Shares: October 30, 2024
Initiation of Refunds: October 31, 2024
Credit of Shares to Demat Account: October 31, 2024
Listing Date: November 4, 2024
The Afcons Infrastructure IPO is a ₹5,430 crore book-built issue. The share sale will consist of an issue of 2.7 crore fresh equity shares amounting to ₹1,250 crore and an offer-for-sale of 9.03 crore shares worth ₹4,180 crore.
Afcons Infrastructure IPO: Subscription Details
Despite a slow momentum at the start, Afcons Infrastructure’s IPO was subscribed 2.77 times by the end of the issue. The portion set aside for qualified institutional buyers (QIB) was subscribed 3.99 times, while the non-institutional investors (NII) segment was subscribed 5.31 times. The retail category of the issue was subscribed 0.99 times, and the employee portion was subscribed 1.77 times.
|
Category |
Subscription |
|
QIB |
3.99 |
|
NII |
5.31 |
|
Retail |
0.99 |
|
Employee |
1.77 |
Following the closure of the issue, shares of Afcons Infrastructure will be allotted to successful bidders on October 30, 2024. Shares of the company are expected to make their stock market debut on November 4, 2024.
The promoter group companies cumulatively hold over 99% of shares in Afcons Infrastructure, with key promoter companies being Goswami Infratech (71.87% stake), Shapoorji Pallonji Company (16.63%) and Floreat Investments (8.12%).
How to Check Afcons Infrastructure IPO Allotment Status
Investors can check the allotment status by visiting the official registrar’s website or the BSE website.
Check Afcons Infrastructure IPO Allotment Status on Link Intime
Step 1: Visit the IPO’s official registrar’s website https://linkintime.co.in/initial_offer/
Step 2: From the dropdown menu, select Afcons Infrastructure
Step 3: Fill in your PAN, application number, or DP client ID details
Step 4: Submit and check your allotment status.
Utilisation of IPO Proceeds
Afcons Infrastructure reported that from the net proceeds of the IPO, the company intends to spend ₹80 crore as capital expenditure towards the purchase of construction equipment, ₹320 crore for funding the company’s long-term working capital requirements and ₹600 crore on prepayment or scheduled repayment of portions of outstanding borrowings of the company. The remainder of the funds will be used for general corporate purposes.
About Afcons Infrastructure
Afcons Infrastructure is an infrastructure and engineering company that has operations in several verticals, including marine & industrial, surface transport, urban infrastructure, and hydro & underground. The company has a vast range of projects under its belt, including ports, harbours, highways, railways, dams, and tunnels. The company is also involved in the oil & gas sector through several offshore and onshore projects.
Afcons Infrastructure also has a strong presence internationally and has completed 79 projects across 17 countries. The majority of the company’s projects are undertaken on the engineering, procurement, and construction (EPC) model.
For the quarter ended June 30, 2024, Afcons Infrastructure reported a net profit of ₹91.58 crore while the consolidated revenue from operations stood at ₹3,154 crore. At the end of the quarter, the company’s order book stood at ₹31,747 crore.