Afcons Infrastructure IPO Day 1 Subscription at 0.14 Times!

Afcons Infrastructure's initial public offering (IPO) has received modest investor interest on its opening day. The IPO witnessed cautious demand, resulting in a 0.08 times subscription by 2:01:10 PM on day one. This initial response indicates measured investor sentiment towards Afcons Infrastructure's shares at the start of the subscription period.

The IPO, which opened on 25th October 2024, has seen varied participation across categories. The Employee segment has shown relatively better interest, followed by moderate participation from Retail Investors, while Non-Institutional Investors (NII) and Qualified Institutional Buyers (QIB) have shown limited participation in the initial hours.

This measured response to Afcons Infrastructure's IPO comes as the company seeks to establish its presence in the public markets, with its position as a leading infrastructure engineering and construction company of the Shapoorji Pallonji group being a key consideration for investors.

Subscription Status of Afcons Infrastructure IPO for Day 1:

Here are the subscription details for Afcons Infrastructure IPO as of Day 1 (25th October 2024, 5:23:08 PM):

Total Applications: 1,53,928

Key Highlights:

• Afcons Infrastructure IPO is currently subscribed 0.14 times on Day 1.
• Employees have shown the strongest interest with 0.41 times subscription.
• Retail investors have demonstrated moderate participation with 0.15 times subscription.
• Small Non-Institutional Investors (sNII) showed relatively better response at 0.17 times compared to bNII's 0.09 times.
• Qualified Institutional Buyers (QIB) have shown initial interest with 0.11 times subscription.
• Non-Institutional Investors (NII) portion received 0.12 times subscription.
• Total applications reached 1,53,928, indicating steady initial investor participation.
• The subscription trend reflects cautious opening day response across categories.

About Afcons Infrastructure Limited

Afcons Infrastructure Limited, incorporated in 1959, is an infrastructure engineering and construction company of the Shapoorji Pallonji group, with a legacy of over six decades. For the fiscal year 2024, Afcons Infrastructure demonstrated strong financial performance with a revenue of ₹13,646.88 crore, marking a 6% year-over-year growth, and a Profit After Tax (PAT) of ₹449.76 crore, representing a 9% increase. The company's net worth stood at ₹3,575.05 crore as of March 31, 2024. Key performance indicators highlight the company's financial health, with a Return on Equity (ROE) of 10.55%, Return on Capital Employed (ROCE) of 14.89%, and a PAT Margin of 2.85%.

As of September 30, 2023, the company has completed 76 projects across 15 countries with a total historic executed contract value of ₹522.20 billion and currently has 67 active projects across 13 countries, with an order book of ₹348.88 billion.

Read more about Afcins Infrastructure IPO

Highlights of the Afcons Infrastructure IPO:

• IPO Date: October 25, 2024 to October 29, 2024
• Listing Date: November 4, 2024 (Tentative)    
• Face Value: ₹10 per share    
• Price Band: ₹440 to ₹463 per share   
• Lot Size: 32 Shares
• Total Issue Size: 117,278,618 shares (aggregating up to ₹5,430.00 Cr)
• Fresh Issue: 26,997,840 shares (aggregating up to ₹1,250.00 Cr)
• Offer for Sale: 90,280,778 shares (aggregating up to ₹4,180.00 Cr)
• Employee Discount: ₹44 per share  
• Issue Type: Book Built Issue IPO  
• Listing At: BSE, NSE
• Book Running Lead Managers: ICICI Securities Limited, Dam Capital Advisors Ltd, Jefferies India Private Limited, Nomura Financial Advisory And Securities (India) Pvt Ltd, Nuvama Wealth Management Limited, and SBI Capital Markets Limited
• Registrar: Link Intime India Private Ltd