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Afcons Infrastructure IPO
Afcons Infrastructure Ltd
₹14,080 /32 sharesMinimum Investment
Afcons Infrastructure IPO Listing Details
| Listed On | Issue Price | Listing Price | Listing Gains |
|---|---|---|---|
| -- | ₹463.00 | ₹426.00 | -₹37.00 (7.99%) |
Afcons Infrastructure IPO Details
| Bidding Dates | Min. Investment | Lot Size | Price Range |
|---|---|---|---|
| 25 Oct ‘24 - 29 Oct ‘24 | ₹14,080 | 32 | ₹440 - ₹463 |
| Issue Size | IPO Doc |
|---|---|
| 5430.00Cr | RHP PDF |
Subscription rate
As of 29 Oct'24, 05:00 PM
| Qualified Institutional Buyers | 3.79x |
| Non-Institutional Investor | 5.05x |
| Retail Individual Investor | 0.92x |
| Employees | 1.66x |
| Total | 2.62x |
About Afcons Infrastructure
Founded in
1961
Managing director
Mr. Paramasivan Srinivasan
Parent organisation
Afcons Infrastructure Ltd
Strengths & Financials of Afcons Infrastructure
Strengths
Risks
As of June 30, 2024, Afcons Infrastructure had 65 active projects in 12 countries, with a total order book of Rs 31,747 crore, and has completed over 79 projects in 17 countries.
The company has significantly expanded its global footprint, particularly in Asia, Africa, and the Middle East.
Afcons claims to have a fleet of equipment, which includes heavy machinery and tools. As of June 30, 2024, this equipment base featured 11 marine barges, 153 cranes, 16 tunnel boring machines, eight large-capacity jackups, and 21 piling rigs.
The company also claims to be committed to integrating environmental, social, and governance (ESG) principles into its operations. In FY24, Afcons reduced its total energy consumption to 2.42 million gigajoules, down from 2.70 million gigajoules in the previous year. Additionally, Afcons recycled over 27% of the wastewater generated at its project sites during FY24.
The company has worked on projects like the Atal Tunnel, the Delhi-Meerut regional rapid transit system, the Delhi metro phase IV projects, and the second liquid cargo berth at Dahej, Gujarat, for Gujarat Chemical Port Limited.
The company has seen a consistent increase in revenue from operations and profit after tax (PAT). Revenue from operations increased from Rs 11,018.97 crore in FY22 to Rs 12,637.38 crore in FY23 to Rs 13,267.49 crore in FY24, while PAT increased from Rs 357.60 crore in FY22 to Rs 410.86 crore in FY23 to Rs 449.74 crore in FY24.
Afcons Infrastructure’s order book is largely dependent on projects provided by the government or government-led clients. Projects given by government/government-led clients contributed Rs 20,429.55 crore (65.98%), 18,910.38 crore (62.19%), and Rs 20,662.02 crore (62.98%) to the company’s order book in FY24, FY23, and FY22. Any adverse changes in the government budget allocations for infrastructure or a slowdown in work due to shifts in government policies can be detrimental to the company's business.
Some of Afcons' contracts are currently involved in legal and arbitration proceedings. Any adverse judgment in any of these cases can harm the company's operations.
The top 10 customers of the company contributed Rs 20,286.67 crore (65.52%), Rs 19,389.61 crore (63.77%), and Rs 22,398.61 crore (68.28%) to the order book in FY24, FY23, and FY22, respectively. Any failure to retain these key customers, expand the customer base, or a loss of business from these clients can adversely affect the company’s business and financial standing.
As of June 30, 2024, the company has total trade receivables amounting to Rs 3,974.61 crore. Any failure to collect these receivables on time or at all can negatively impact the business and its financial condition.
The company, its subsidiaries, promoters, and directors are involved in some ongoing legal proceedings. Any adverse judgments in any of these cases can be detrimental to the company’s business prospects.
As of June 30, 2024, the company had outstanding financial indebtedness of Rs 17,732.36 crore. Any failure to service or repay these loans can harm the company’s operations and financial position.
Afcons Infrastructure Financials
*All values are in Rs. Cr
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Application Details of Afcons Infrastructure IPO
| Apply as | Price band | Apply Range |
|---|---|---|
| Regular | ₹440 - 463 | Upto ₹2 Lakh |
| Employee | ₹396 - 419 | Upto ₹2 Lakh |
| High Networth Individual | ₹440 - 463 | ₹2 - 5 Lakh |
For Afcons Infrastructure IPO, eligible investors can apply as Regular & Employee.