Afcons Infrastructure IPO Day 2 Subscription Hits 0.27x at 11:51 AM

The Afcons Infrastructure IPO, one of the upcoming IPOs in India, opened for subscription on October 25, 2024, and will close tomorrow October 29, 2024. The IPO allotment is anticipated to be finalised on Wednesday, October 30, 2024, with a tentative listing date set for Monday, November 4, 2024, on the BSE and NSE.

This IPO is a book-built issue amounting to ₹54,300 million, comprising a fresh issue of 2.7 crore shares valued at ₹12,500 million, along with an offer for sale of 9.03 crore shares totalling ₹41,800 million. 

The price band for the Afcons Infrastructure IPO is set at ₹440 to ₹463 per share, with a minimum lot size of 32 shares. Retail investors need to make a minimum investment of ₹14,816.

The company intends to use the net proceeds for several purposes, including capital expenditures for purchasing construction equipment, funding long-term working capital requirements, prepaying or scheduling the repayment of part of certain outstanding borrowings, and general corporate purposes.

Afcons Infrastructure IPO Subscription Status

• On October 25, 2024, Day 1, Afcons Infrastructure IPO was subscribed 0.10 times. The retail category saw a subscription of 0.14 times, QIB at 0.01 times, and NII at 0.11 times. 

• On Day 2, October 28, 2024, at 11:51 AM, Afcons Infrastructure IPO was subscribed 0.27 times where the retail category was subscribed 0.28 times, QIB was 0.11 times, and NII was 0.25 times. 

About Afcons Infrastructure Limited

Founded in 1959, Afcons Infrastructure Limited has over 6 decades of expertise in the infrastructure engineering and construction sector. In the last 11 financial years and the three months ending June 30, 2024, the company has successfully completed 79 projects across 17 countries, with a total executed contract value of ₹563.05 billion. 

As of June 30, 2024, Afcons has 65 active projects in 12 countries, contributing to an order book of ₹317.47 billion. The company has significantly enhanced its global footprint, especially in Asia, Africa, and the Middle East.

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.