Afcons Infrastructure has made a strong impression by emerging as the lowest bidder for the construction of Package BH-05 of the Bhopal Metro Phase 1 project. This project focuses on the 12.915 km Blue Line (Line-2), connecting Bhadbhada Chauraha to Ratnagiri Tiraha with 13 elevated stations, poised to significantly boost urban transportation in Bhopal.
The successful bid by Afcons, valued at ₹1,006.74 crore, was deemed the lowest (L1) offer among several submissions. This contract, awarded by the Madhya Pradesh Metro Rail Corporation Ltd (MPMRCL), includes the construction of the Blue Line’s viaduct, 13 stations, and a ramp to the Subhash Nagar Depot. This depot will support operations for both the Blue Line and the upcoming Orange Line, which will link Karond Circle to AIIMS, thus facilitating maintenance for both lines.
The Bhopal Metro project, financed by the European Investment Bank (EIB) with a €400 million loan, carries a three-year construction deadline, underscoring Afcons’ role in this transformative urban mobility initiative.
IPO Listing Performance
Afcons Infrastructure made its debut on both NSE and BSE today, marking the first IPO in Samvat 2081. Despite initial expectations, shares opened lower, trading at ₹430.05 on the BSE, down by ₹32.95 or 7.12% from the IPO issue price of ₹463. On the NSE, shares listed at ₹426, reflecting a 7.99% drop from the issue price.
