Afcons Infrastructure IPO Day 1 Live Updates: The flagship infrastructure engineers and construction firm of the Shapoorji Pallonji Groups, Afcons Infrastructures Ltd, made its debut on the D- street today.
The first day of Afcons Infrastructure IPO showed a lacklustre performance. According to BSE data, the issue was subscribed to by 10 % on its opening day.Â
The initial day of Afcons Infrastructure IPOÂ has shown attracted bids for 8606560 shares out of the 86619950 shares available, as per BSE. The retail investor segments saw a 14% subscription rate, while the non – institutional investor quota was 11 % subscribed. Qualified institutional buyers have only subscribed 1%. The portion allocated for employees has achieved 39 % subscribed.
The company has a solid history of delivering numerous intricate, challenging, and unique engineering, procurement and construction projects, both within India and internationally. The Afcons Infrastructure IPO subscription period is set to begin on Friday, October 25 and will conclude on Tuesday, October 29.
The IPO includes a fresh issuance of equity shares valued at 1250 crore and a share offer worth 4180 crore by its promoters, Goswami Infratech. As of June 30, 2024, the firm is involved in 65 projects across 12 countries, with a cumulative order book valued at 317.47 million.
Over the years, the company has broadened its international footprint, especially in Asia, Africa, and the Middle East. Afcons Infrastructure has undertaken numerous complex, demanding, innovative and groundbreaking infrastructure projects both in India and globally, as highlighted in the Fitch Report.
The initial share sale received bids for 8606560 shares against 86619950 shares on offer, according to BSE. The portion for retail investors received 14% subscription while the quota for non – institutional investors got subscribed 11%. The qualified institutional buyers part is booked 1%, The employee portion has been subscribed 39%.
