October 29, 2024
New Delhi, India
Afcons Infrastructure IPO
Afcons Infrastructure, a Shapoorji Pallonji Group company, launched its initial public offering (IPO) on October 25, 2024, with the subscription closing on October 29. The IPO has a price range of ₹440 to ₹463 per share, and the lot size is set at 32 shares.
- IPO Size: ₹5,430 crore
- Fresh Issue: ₹1,250 crore
- Offer for Sale (OFS): Up to ₹4,180 crore by promoter Goswami Infratech Pvt Ltd
- Anchor Investment: Raised ₹1,621 crore from anchor investors on October 24
Subscription Highlights
- Total Subscription: 74%
- Category-Wise Subscriptions:
- Non-Institutional Investors (NIIs): Fully subscribed at 72%
- Retail Investors (RIIs): 0.36 times subscribed
- Qualified Institutional Buyers (QIBs): 8% subscription
- Employees: Oversubscribed at 1.01 times, with a discount of ₹44 per share
Purpose of IPO Proceeds
Funds from the fresh issuance will be allocated towards:
- Capital Expenditure: ₹80 crore for construction equipment
- Working Capital: ₹320 crore for long-term needs
- Debt Repayment: ₹600 crore to clear a portion of outstanding borrowings
- General Corporate Purposes
Business Segments
Afcons operates across five infrastructure verticals:
- Marine and Industrial: Ports, harbors, LNG tanks
- Surface Transport: Highways, railways, mining infrastructure
- Urban Infrastructure: Metro projects, bridges
- Hydro and Underground: Dams, tunnels
- Oil and Gas: Offshore and onshore projects
Lead Managers and Registrar
The IPO is managed by:
- Lead Managers: ICICI Securities, DAM Capital Advisors, Jefferies India, Nomura Financial Advisory, Nuvama Wealth, SBI Capital Markets
- Registrar: Link Intime India
Latest Q2 Results
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