Afcons Infrastructure Limited, a prominent player in the infrastructure sector, is gearing up for its IPO, with a total issue size of ₹5,430 crores. The offering consists of a Fresh Issue of 269.97 lakh shares worth ₹1,250 crores and an Offer for Sale of 902.80 lakh shares totaling ₹4,180 crores. This IPO is crucial as it reflects the company’s strong legacy and its ability to undertake complex EPC projects both domestically and internationally.

The subscription period for the Afcons Infrastructure IPO commenced on October 25, 2024, and will conclude on October 29, 2024. Investors eagerly anticipate the allotment date, which is expected to be finalized on or about October 30, 2024. The shares are slated for listing on both the BSE and NSE, with a tentative listing date around November 4, 2024.

The price band for the Afcons Infrastructure IPO is set between ₹440 and ₹463 per equity share. At the upper end of this price band, the market capitalization of the company is projected at ₹17,026 crores. With a lot size of 32 shares, retail investors need to invest a minimum of ₹14,816, while high-net-worth individuals (HNIs) must invest a minimum of ₹2,07,424 for 14 lots.

The IPO is being managed by reputed book-running lead managers including Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited. The registrar for the issue is LINK INTIME INDIA PRIVATE LIMITED.

Afcons Infrastructure Limited IPO GMP Today

The Grey Market Premium (GMP) for the Afcons Infrastructure IPO currently stands at ₹87, based on the company’s financial performance. It is crucial to note that trading in the grey market does not provide a reliable price discovery mechanism. The GMP can fluctuate based on demand and supply dynamics in the unregulated market and is mentioned solely for informational purposes.

Afcons Infrastructure Limited IPO Live Subscription Status Today

As of 11:11 AM on October 28, 2024, the live subscription status for the Afcons Infrastructure IPO indicates that it has been subscribed 0.19 times on the second day of the subscription period. For real-time updates, investors can check the Afcons Infrastructure IPO Live Subscription Status on the BSE website.

Afcons IPO Anchor Investors Report

In a notable move, Usha Financial Services has successfully raised ₹1,621.49 crores from anchor investors at the IPO price of ₹463 per share. A total of 3,50,21,597 equity shares were allocated to these anchor investors. It's important to note that shares allotted to anchor investors come from the Qualified Institutional Buyers (QIBs) reservation portion.

Afcons Infrastructure Limited IPO Allotment Date - Step by Step Guide to Check Allotment Status Online

The allotment date for the Afcons Infrastructure IPO is confirmed for October 30, 2024. Investors can check their allotment status online through the registrar's website. Here's a step-by-step guide:

• Navigate to the IPO allotment status page.
• Select Afcons Infrastructure Limited IPO from the dropdown list of IPOs.
• Enter your application number, PAN, or DP Client ID.
• Submit the details to view your allotment status.

This streamlined process allows investors to track their status efficiently and make informed decisions about their investments.

Objectives of Afcons Infrastructure Limited IPO

The proceeds from the Fresh Issue will be allocated toward various objectives, including:

1. ₹800 million for capital expenditure to purchase construction equipment.
2. ₹3,200 million for funding long-term working capital requirements.
3. ₹6,000 million for the prepayment or scheduled repayment of certain outstanding borrowings and acceptances.
4. General corporate purposes.

Afcons Infrastructure IPO Review

Afcons Infrastructure, the flagship infrastructure engineering and construction arm of the Shapoorji Pallonji Group, boasts a legacy spanning over six decades. The company has built a strong reputation for successfully executing numerous complex and challenging EPC projects across both domestic and international markets.

The company is guided by a robust team of key managerial personnel and senior management, including Satish G. Paretkar, Avinash Patil, Gokul Javalikar, Minoo Motiram Lalvani, V. Ashwini Kumar, and Sandeep Desai.

Examining the company's financial metrics reveals promising insights. For the three-month period ending June 30, 2024, the revenues from operations were recorded at ₹32,134.70 million. The company's fiscal revenues for 2024, 2023, and 2022 were ₹1,36,468.74 million, ₹1,28,440.90 million, and ₹1,12,695.49 million, respectively. Notably, the EBITDA figures for the same periods were ₹3,716.93 million, ₹15,831.24 million, ₹13,737.89 million, and ₹10,685.99 million. The Profit after Tax for the three-month period ended June 30, 2024, and for the fiscal years 2024, 2023, and 2022, stood at ₹915.86 million, ₹4,497.38 million, ₹4,108.60 million, and ₹3,576.05 million, respectively.

For the Afcons Infrastructure IPO, the company reports a pre-issue EPS of ₹13.20 and a post-issue EPS of ₹12.22. The pre-issue P/E ratio is calculated at 35.08x, with a post-issue P/E ratio of 37.88x, compared to the industry P/E ratio of 47.91x. The company’s Return on Capital Employed (ROCE) for FY24 is 20.18%, while the Return on Equity (RoE) stands at 13.28%. These metrics suggest that the IPO is priced reasonably well for potential investors.

The current Grey Market Premium (GMP) indicates potential listing gains of approximately 19%. Given the robust financial performance and favorable valuations, it is advisable for risk-tolerant investors to consider applying for the Afcons Infrastructure Limited IPO for potential listing gains or as a long-term investment opportunity.

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