Shares of Afcons Infrastructure Ltd. attracted significant buying interest on November 4, 2024, with prominent investment funds participating in bulk deals, reflecting robust demand and investor confidence in the newly listed company.
As of 10:18 am on November 5th, Afcons Infrastructure’s shares were trading 1.23% higher at ₹480.05 on the NSE.
Bulk Deal Highlights
Several major funds purchased substantial quantities of Afcons Infrastructure shares during bulk deals:
- Goldman Sachs India Equity Portfolio acquired 25,29,066 shares at a price of ₹443.65.
- Jupiter India Fund bought 25,23,168 shares at ₹446.70.
- Nomura Funds Ireland PLC – Nomura India Equity Fund secured 18,44,133 shares at ₹453.40.
- Nomura India Investment Fund Mother Fund also acquired 31,00,000 shares at ₹453.40.
These purchases demonstrate strong foreign institutional interest in the company, especially given its recent IPO debut.
Leadership’s Commitment to Governance
In a statement, Subramanian Krishnamurthy, Executive Vice Chairman of Afcons Infrastructure, emphasized the company’s dedication to corporate governance. He noted that Afcons has adhered to strict governance practices for over 17 years, even before becoming a publicly listed entity. Now, with its governance practices in the public eye, Krishnamurthy expressed confidence that investors would appreciate Afcons’ commitment to high standards and operational excellence.
“We have been following strict corporate governance for the last 17–18 years, despite not being a listed entity. Therefore, our governance, which was private, will now be public and I am sure investors will value the governance standards and execution excellence of Afcons going forward,” Krishnamurthy remarked.
Outlook for Afcons Infrastructure
Afcons Infrastructure’s IPO was the first to launch in Samvat 2081, drawing significant interest in the infrastructure and construction sector. The recent bulk deals reflect institutional confidence in Afcons’ growth potential and its role in major infrastructure projects. The company’s commitment to governance and transparency, as highlighted by its leadership, adds to its attractiveness for long-term investors.
