Bookbuilding IPO | ₹5,430 Cr | Listed at BSE, NSE | Fri, Oct 25, 2024 - Tue, Oct 29, 2024
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 per share. The lot size for an application is 32. The minimum amount of investment required by an retail is ₹14,816 (32 shares) (based on upper price). 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 Open
Fri, Oct 25, 2024
IPO Close
Tue, Oct 29, 2024
Issue Price
₹463 per share
Market Cap (Pre-IPO)
₹17,026.18 Cr
| IPO Date | 25 to 29 Oct, 2024 |
| Listed on | Mon, Nov 4, 2024 |
| Face Value | ₹10 per share |
| Price Band | ₹440 to ₹463 |
| Issue Price | ₹463 per share |
| Lot Size | 32 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Employee Discount | ₹44.00 |
| Total Issue Size | 11,73,27,139 shares (agg. up to ₹5,430 Cr) |
| Fresh Issue | 2,70,46,362 shares (agg. up to ₹1,252 Cr) |
| Offer for Sale | 9,02,80,777 shares of ₹10 (agg. up to ₹4,178 Cr) |
| Share Holding Pre Issue | 34,07,38,269 shares |
| Share Holding Post Issue | 36,77,36,109 shares |
| BSE Script Code / NSE Symbol | 544280 / AFCONS |
| ISIN | INE101I01011 |
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 (Ex- Anchor), 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 | Max 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%) |
Investors can bid for a minimum of 32 shares and in multiples thereof.
| 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 |
Afcons Infrastructure IPO raises ₹1,621.50 crore from anchor investors. Afcons Infrastructure IPO Anchor bid date is October 24, 2024.
📝 Anchor Investors Letter (PDF)
| Bid Date | Thu, Oct 24, 2024 |
| Shares Offered | 3,50,21,597 |
| Anchor Portion (₹ Cr.) | 1,621.50 |
| Anchor lock-in period end date for 50% shares (30 Days) | Fri, Nov 29, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | Tue, Jan 28, 2025 |
| 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 |
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
| 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 | 3,365.10 | 2,455.00 | 1,562.82 | 1,555.20 |
| Amount in ₹ Crore | ||||
| KPI | Jun 30, 2024 |
|---|---|
| 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 (₹) | 13.20 | 9.96 |
| P/E (x) | 35.08 | 46.48 |
| Promoter Holding | 80.64% | 50.17% |
| Market Cap | ₹17,026.18 Cr. |
The Afcons Infrastructure IPO is subscribed 2.77 times on October 29, 2024 6:19:07 PM (Day 3). The public issue subscribed 99.00 times in the retail category, 3.99 times in the QIB category, and 531.00 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (x) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 3.99 | 2,45,68,181 | 9,80,27,042 |
| NII | 531.00 | 1,84,26,137 | 9,78,42,78,747 |
| bNII (> ₹10L) | 6.63 | 1,22,84,092 | 8,14,43,530 |
| sNII (< ₹10L) | 267.00 | 61,42,045 | 1,63,99,26,015 |
| Retail | 99.00 | 4,29,94,319 | 4,25,64,37,581 |
| Employee | 177.00 | 6,31,313 | 11,17,42,401 |
| Total | 2.77 | 8,66,19,950 | 23,99,37,262 |
Total Applications: 7,80,662
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Fees payable to the Book Running Lead Managers and commissions (including underwriting commission, brokerage and selling commission) | 108.93 |
| 2 | Selling commission payable to SCSBs for Bids directly procured by them and processing fees payable to SCSBs for Bids (other than Bids submitted by UPI Bidders) procured by the members of the Syndicate, the Registered Brokers, CRTAs or CDPs and submitted to SCSBs for blocking, Bankers to the Offer, fees payable to the Sponsor Banks for Bids made by RIBs | 8.27 |
| 3 | Selling commission and uploading charges payable to members of the Syndicate (including their Sub-Syndicate Members), RTAs, CDPs and Registered Brokers | 0.10 |
| 4 | Fees payable to Registrar to the Offer | 0.14 |
| 5 | Printing and stationery expenses | 1.50 |
| 6 | Advertising and marketing expenses | 10.50 |
| 7 | Listing fees, SEBI fees, BSE and NSE processing fees, book-building software fees, and other regulatory expenses | 18.09 |
| 8 | Fees payable to legal counsels | 8.79 |
| 9 | Other Regulatory and miscellaneous | 34.01 |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹463.00 | ₹463.00 |
| Open | ₹430.05 | ₹426.00 |
| Low | ₹419.85 | ₹420.25 |
| High | ₹479.25 | ₹479.45 |
| Last Trade | ₹474.55 | ₹474.20 |
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 Crores. The issue is priced at ₹463 per share. The minimum order quantity is 32.
The IPO opens on Fri, Oct 25, 2024, and closes on Tue, Oct 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 Fri, Oct 25, 2024 and closes on Tue, Oct 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 Thu, Oct 31, 2024. Check the Afcons Infrastructure IPO allotment status.
The Afcons Infrastructure IPO listing date is on Mon, Nov 4, 2024.
