Afcons Infrastructure Ltd, a leading construction and engineering company under the Shapoorji Pallonji Group, is gearing up for its Initial Public Offering (IPO) to raise substantial capital. Here’s a comprehensive overview of the upcoming IPO, including critical dates, financial specifics, and market outlook.
Afcons Infrastructure IPO Overview
- IPO Size: ₹5,430 crore
- Fresh Issue: ₹1,250 crore
- Offer for Sale (OFS): ₹4,180 crore by Goswami Infratech Private Limited, a promoter entity
- Price Band: ₹440 to ₹463 per share
- Lot Size: 32 shares per lot
Afcons Infrastructure IPO Key Dates
- Bidding Period: October 25 to October 29, 2024
- Allotment Date: October 30, 2024
- Refund Initiation: October 31, 2024
- Demat Transfer: October 31, 2024
- Listing Date: November 4, 2024 (BSE and NSE)
Afcons Infrastructure IPO Financial Utilization
- ₹80 crore for purchasing construction equipment
- ₹320 crore for long-term working capital
- ₹600 crore to repay outstanding borrowings
- Remaining funds for general corporate purposes
Afcons Infrastructure IPO Grey Market Premium (GMP)
Currently, Afcons Infrastructure Ltd shares are trading at a grey market premium (GMP) of around ₹100 over the issue price, indicating an expected listing gain of 21.6%. This reflects positive sentiment toward the IPO in the market.
Afcons Infrastructure Company Background
Afcons Infrastructure Ltd has a proven track record in delivering complex engineering projects globally. By June 30, 2024, the company had completed 79 projects across 17 countries, with an order book valued at ₹31,747 crore. It operates in diverse sectors including marine and industrial infrastructure, urban development, surface transport, hydro projects, and oil & gas.
The Afcons Infrastructure Ltd IPO represents a pivotal moment for the company as it looks to strengthen its capital base and expand its operations in the infrastructure sector. With strong market sentiment and a competitive position, this IPO is expected to draw significant investor interest.
Disclaimer: The information provided is for informational purposes only and should not be construed as investment advice.
