Afcons Infrastructure IPO: The IPO of Afcons Infrastructure Limited, the infrastructure engineering and construction company of Shapoorji Pallonji Group, is going to hit the market from Friday, October 25, 2024. The IPO of Afcons Infrastructure will be open for investors’ applications from 25 to 29 October 2024. The company plans to raise Rs 5430 crore through IPO.
Rs 440 – 463 per share price band
The size of the IPO of Afcons Infrastructure Limited is Rs 5430 crore, in which Rs 1250 crore will be raised by issuing 2.7 crore new shares, while there is a preparation to raise Rs 4180 crore through 9.03 crore shares in the offer for sale. Promoter company Goswami Infratech Limited is going to sell these shares in Offer for Sale. The price band for IPO has been fixed at Rs 440 – 463 per share. Investors can apply for a minimum of one lot of 32 shares in the IPO of Afcons Infrastructure. Investors will have to pay Rs 14,816 crore for one lot. Retail investors can apply for a maximum of 13 lots. The employees of the company are being given a discount of Rs 44 per share.
Listing possible on November 4
The IPO will open on 25th October and 29th October is the last date to apply. The basis of allotment will be decided on October 30, 2024. Refunds to investors will be issued on October 31, 2024. Shares will be transferred to the demat accounts of successful investors on 31st October itself. And the IPO will be listed on BSE-NSE on November 4, 2024.
Afcons prepared big projects
Afcons Infrastructure Limited was formed in the year 1959 and in the last 6 decades the company has prepared many big projects in the country and abroad. Till September 30, 2023, the company has prepared 76 projects in 15 countries whose value was Rs 522.20 billion. As of September 30, 2023, the company has 67 active projects in 13 countries and a total order book size of Rs 348 billion. The company is present in Asia, Africa and the Middle East. ICICI Securities Limited, Dam Capital Advisors, Jefferies India, Nomura Financial, Nuvama Wealth and SBI Capital Markets are the book running lead managers of the IPO.
