Afcons Infrastructure IPO Allotment Status Finalised on October 30; Shares to Be Credited Today on October 31

Afcons Infrastructure IPO, one of the anticipated upcoming IPOs, opened for subscription on October 25, 2024, and closed on October 29, 2024. 

The company likely finalised share allotments yesterday, October 30. Successful bidders can expect the shares to be credited to their demat accounts on Thursday, October 31. Those who did not receive an allotment will likely receive refunds on the same day. The stock is expected to be listed on the BSE and NSE on Monday, November 4, 2024.

This IPO is a book-built issue of ₹5,430 crores, which consists of a fresh issue of 2.7 crore shares worth ₹1,250 crores and an offer for sale of 9.03 crore shares totaling ₹4,180 crores. 

The price band for the Afcons Infrastructure IPO was set between ₹440 to ₹463 per share, with a minimum application lot size of 32 shares, requiring retail investors to invest at least ₹14,816.

As per the RHP, the proceeds from the fresh issue will be used for capital expenditures towards the purchase of construction equipment, funding long-term working capital requirements, prepaying or repaying certain outstanding borrowings, and for general corporate purposes.

On Day 3, October 29, 2024, the Afcons Infrastructure IPO was subscribed 2.77 times. It garnered a subscription of 0.99 times in the retail category, 3.99 times in Qualified Institutional Buyers (QIB), and 5.31 times in the Non-Institutional Investors (NII) category.

The total IPO was of 11,73,35,318 shares, with allocations of 2,33,47,732 shares (19.9%) to QIBs, 1,75,10,799 shares (14.92%) to NIIs, 4,08,58,531 shares (34.82%) to Retail Individual Investors (RIIs), 5,96,659 shares (0.51%) to employees, and 3,50,21,597 shares (29.85%) to anchor investors.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet and is subject to changes. Please consult an expert before making related decisions.