Afcons Infrastructure IPO Day 1 Live Updates: Issue Opens Today – Check Latest GMP, Subscription Status, and More
Afcons Infrastructure IPO Day 1 Live Updates: The highly anticipated initial public offering (IPO) of Afcons Infrastructure Ltd, a leading infrastructure engineering and construction firm under the Shapoorji Pallonji Group, has made its debut on the D-Street today. The company, known for its successful delivery of complex and innovative engineering projects both in India and internationally, has set its IPO price band between ₹440 and ₹463 per equity share with a face value of ₹10.
The IPO includes a fresh issuance of equity shares valued at ₹1,250 crore and a share offer worth ₹4,180 crore by its promoter Goswami Infratech. As of June 30, 2024, Afcons Infrastructure is actively engaged in 65 projects across 12 countries, with a cumulative order book valued at ₹317.47 billion.
On the first day of subscription, the IPO has been subscribed 3%, with the initial share sale receiving bids for 28,32,224 shares against 8,66,19,950 shares on offer. Retail investors have subscribed 5% of the portion, while non-institutional investors have subscribed 3%. The qualified institutional buyers (QIBs) part is yet to be booked, and the employee portion has been subscribed 13%.
Investors are closely watching the IPO’s performance, with the grey market premium (GMP) currently at +60, indicating a premium of ₹60 in the grey market. This suggests that the estimated listing price of Afcons Infrastructure shares could be around ₹523 apiece, 12.96% higher than the IPO price of ₹463.
With a strong order book, strategic investments, and stable financial performance, Afcons Infrastructure presents a promising investment opportunity. However, investors are advised to carefully consider the risks associated with the company’s reliance on government projects and capital expenditure.
Stay tuned for more updates on Afcons Infrastructure IPO, including subscription status, reviews, and expert analysis.
