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Afcons Infrastructure IPO is a book build issue of ₹5,430.00 crores. The issue is a combination of fresh issue of 2.70 crore shares aggregating to ₹1,251.73 crores and offer for sale of 9.03 crore shares aggregating to ₹4,178.27 crores.
Afcons Infrastructure IPO bidding started from Oct 25, 2024 and ended on Oct 29, 2024. The allotment for Afcons Infrastructure IPO was finalized on Oct 30, 2024. The shares got listed on BSE, NSE on Nov 4, 2024.
Afcons Infrastructure IPO price band is set at ₹463.00 per share . The lot size for an application is 32. The minimum amount of investment required by an retail is ₹14,080 (32 shares). The lot size investment for sNII is 14 lots (448 shares), amounting to ₹2,07,424, and for bNII, it is 68 lots (2,176 shares), amounting to ₹10,07,488.
The issue includes a reservation of up to 5,96,658 shares for employees offered at a discount of ₹44.00 to the issue price.
ICICI Securities Ltd. is the book running lead manager and MUFG Intime India Pvt.Ltd. is the registrar of the issue.
Refer to Afcons Infrastructure IPO RHP for detailed Information.
| IPO Date | October 25, 2024 to October 29, 2024 |
| Listing Date | November 4, 2024 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹440 to ₹463 per share |
| Issue Price Final | ₹463 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 11,73,27,139 shares (aggregating up to ₹5,430.00 Cr) |
| Fresh Issue | 2,70,46,362 shares (aggregating up to ₹1,251.73 Cr) |
| Offer for Sale | 9,02,80,777 shares of ₹10 (aggregating up to ₹4,178.27 Cr) |
| Employee Discount | ₹44.00 |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 34,07,38,269 shares |
| Share Holding Post Issue | 36,77,36,109 shares |
Afcons Infrastructure IPO offers total 11,73,35,319 shares. Out of which 5,83,69,329 (49.75%) allocated to QIB, 2,33,47,732 (19.90%) allocated to QIB, 1,75,10,800 (14.92%) allocated to NII, 4,08,58,532 (34.82%) allocated to RII and 3,50,21,597 (29.85%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 5,83,69,329 (49.75%) | NA |
| − Anchor Investor Shares Offered | 3,50,21,597 (29.85%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 2,33,47,732 (19.90%) | NA |
| NII (HNI) Shares Offered | 1,75,10,800 (14.92%) | NA |
| − bNII > ₹10L | 1,16,73,867 (9.95%) | 26,057 |
| − sNII < ₹10L | 58,36,933 (4.97%) | 13,028 |
| Retail Shares Offered | 4,08,58,532 (34.82%) | 12,76,829 |
| Employee Shares Offered | 5,96,658 (0.51%) | NA |
| Total Shares Offered | 11,73,35,319 (100.00%) |
| Application Category | Maximum Bidding Limits | Bidding at Cut-off Price Allowed |
|---|---|---|
| Only RII | Up to Rs 2 Lakhs | Yes |
| Only sNII | Rs 2 Lakhs to Rs 10 Lakhs | No |
| Only bNII | Rs 10 Lakhs to NII Reservation Portion | No |
| Only employee | Yes | |
| Employee + RII/NII |
|
Yes for Employee and RII/NII |
Afcons Infrastructure IPO raises ₹1,621.50 crore from anchor investors. Afcons Infrastructure IPO Anchor bid date is October 24, 2024. Afcons Infrastructure IPO Anchor Investors list
| Bid Date | October 24, 2024 |
| Shares Offered | 3,50,21,597 |
| Anchor Portion Size (In Cr.) | 1,621.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | November 29, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | January 28, 2025 |
Afcons Infrastructure IPO opens on October 25, 2024, and closes on October 29, 2024.
| IPO Open Date | Fri, Oct 25, 2024 |
| IPO Close Date | Tue, Oct 29, 2024 |
| Tentative Allotment | Wed, Oct 30, 2024 |
| Initiation of Refunds | Thu, Oct 31, 2024 |
| Credit of Shares to Demat | Thu, Oct 31, 2024 |
| Tentative Listing Date | Mon, Nov 4, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on Tue, Oct 29, 2024 |
Investors can bid for a minimum of 32 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹14,816 |
| Retail (Max) | 13 | 416 | ₹1,92,608 |
| S-HNI (Min) | 14 | 448 | ₹2,07,424 |
| S-HNI (Max) | 67 | 2,144 | ₹9,92,672 |
| B-HNI (Min) | 68 | 2,176 | ₹10,07,488 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 1959, Afcons Infrastructure Limited is an infrastructure engineering and construction company of the Shapoorji Pallonji group, with a legacy of over six decades.
As of September 30 2023, the company has completed 76 projects across 15 countries with a total historic executed contract value of Rs 522.20 billion.
As of September 30, 2023, the company has 67 active projects across 13 countries, totaling an order book of Rs 348.88 billion.
The company is globally present in Asia, Africa and Middle East.
The company has five major infrastructure business verticals
Oil and gas projects cover both offshore and onshore oil and gas projects.
Competitive Strength
Afcons Infrastructure Limited's revenue increased by 6% and profit after tax (PAT) rose by 9% between the financial year ending with March 31, 2024 and March 31, 2023.
| Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
| Assets | 17,184.58 | 16,233.64 | 14,301.25 | 12,973.77 |
| Total Income | 3,213.47 | 13,646.88 | 12,844.09 | 11,269.55 |
| Profit After Tax | 91.59 | 449.76 | 410.86 | 357.61 |
| Net Worth | 3,662.25 | 3,575.05 | 3,155.06 | 2,691.03 |
| Reserves and Surplus | 3,342.52 | 3,255.22 | 2,653.75 | 2,190.11 |
| Total Borrowing | 3,365.1 | 2,455 | 1,562.82 | 1,555.2 |
| Amount in ₹ Crore | ||||
The market capitalization of Afcons Infrastructure IPO is ₹17026.18 Cr.
KPI as of Sun, Jun 30, 2024.
| KPI | Values |
|---|---|
| ROE | 10.55% |
| ROCE | 14.89% |
| Debt/Equity | 0.91 |
| RoNW | 2.50% |
| PAT Margin | 2.85% |
| Price to Book Value | 4.31 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 13.20 | 9.96 |
| P/E (x) | 35.08 | 46.48 |
[Dilip Davda] The company is a flagship infrastructure company of Shapoorji Pallonji group and has well diversified activities and around 30% export revenues. It marked steady growth in its top and bottom lines for the reported periods. It has 30% export revenues and as of September 30, 2024, its order book stood at Rs. 40+K cr. On the basis of FY25 annualized earnings and FY24 earnings, the issue appears fully priced. Investors may park funds for medium to long term in this dividend paying company. Read detail review...
| Listing Date | November 4, 2024 |
| BSE Script Code | 544280 |
| NSE Symbol | AFCONS |
| ISIN | INE101I01011 |
| Final Issue Price | ₹463 per share |
| NSE Listing Group | EQ |
| BSE Listing Group | B |
Afcons Infrastructure Ltd.
Afcons House, 16 Shah Industrial Estate,
Veera Desai Road
ndheri (West), Mumbai,-400053
Mumbai, Maharashtra
Phone: 022 67191214
Email: gaurang@afcons.com
Website: https://www.afcons.com/en
MUFG Intime India Pvt.Ltd.
Phone: +91-22-4918 6270
Email: afconsinfrastructure.ipo@linkintime.co.in
Website: https://linkintime.co.in/Initial_Offer/public-issues.html
Lead Manager Reports
Afcons Infrastructure IPO is a main-board IPO of 11,73,27,139 equity shares of the face value of ₹10 aggregating up to ₹5,430.00 Crores. The issue is priced at ₹463 per share. The minimum order quantity is 32.
The IPO opens on October 25, 2024, and closes on October 29, 2024.
MUFG Intime India Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Afcons Infrastructure IPO using UPI as a payment gateway. Zerodha customers can apply in Afcons Infrastructure IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Afcons Infrastructure IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Afcons Infrastructure IPO opens on October 25, 2024 and closes on October 29, 2024.
Afcons Infrastructure IPO lot size is 32, and the minimum amount required for application is ₹14,816.
You can apply in Afcons Infrastructure IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Afcons Infrastructure IPO will be done on Wednesday, October 30, 2024, and the allotted shares will be credited to your demat account by Thursday, October 31, 2024. Check the Afcons Infrastructure IPO allotment status.
The Afcons Infrastructure IPO listing date is on Monday, November 4, 2024.
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