Afcons Infrastructure Limited, a prominent engineering and construction company under the Shapoorji Pallonji Group, launched its IPO on October 25, 2024.
Known for its strong expertise in executing complex infrastructure projects, the company is making waves in the market, with investors closely tracking the grey market premium (GMP) and subscription details.
Important Dates and Subscription Status
The Afcons Infrastructure IPO is open for bids from October 25 to October 29, 2024, with shares priced between ₹440 and ₹463 per equity share.
With a total goal of raising ₹5,430 crore, this IPO combines both fresh issues and an offer for sale (OFS). By the close of day one, the IPO had seen modest interest, with a 0.03 times subscription overall.
Key Dates for Afcons Infrastructure IPO
| Event | Date |
|---|---|
| IPO Open Date | October 25, 2024 |
| IPO Close Date | October 29, 2024 |
| Allotment Date | October 30, 2024 |
| Expected Listing Date | November 4, 2024 |
Afcons Infrastructure IPO Grey Market Premium (GMP)
The grey market premium (GMP) for Afcons Infrastructure shares currently stands at ₹76 per share, indicating investor optimism in the grey market. This premium suggests an expected listing price above the upper-end issue price, hinting at favorable demand. However, investors are advised to interpret GMP cautiously as market trends can shift rapidly.
Afcons Infrastructure IPO GMP Analysis
| IPO Price (Upper Band) | GMP Today | Expected Listing Price | Premium (%) |
|---|---|---|---|
| ₹463 | ₹76 | ₹539 | 16% |
Financials and Market Impact
Afcons Infrastructure’s order book stands strong at ₹31,747 crore, spread across 12 countries, showcasing the company’s robust project portfolio in sectors such as marine, urban infrastructure, and oil and gas. Recent contracts worth ₹5,936 crore further underscore the company’s expansion potential. The IPO provides an opportunity for investors to participate in a well-diversified and financially stable infrastructure business.
Subscription Status on Day 1
| Investor Category | Subscription (Times) |
|---|---|
| Retail | 0.04 |
| NII | 0.02 |
| QIB | 0.03 |
Expert Recommendations: Should You Subscribe?
Industry analysts have given Afcons Infrastructure IPO a ‘buy’ rating, citing its competitive position, diverse project portfolio, and experienced leadership under the Shapoorji Pallonji Group. Analysts recommend this IPO as a medium—to long-term investment due to the company’s steady financial growth and strong reputation in the market.
MUST READ: Afcons Infrastructure IPO Opens: Key Details, GMP Analysis…
Disclaimer
This article is intended for informational purposes only and should not be taken as financial advice. Please perform your own due diligence.
