Afcons Infrastructure IPO opens on October 25. It will close on October 29. The company aims to raise Rs 5,430 crore from the primary capital market. The issue consists of two components- issuance of fresh shares as well as an offer for sale.
Price Band
The company’s IPO price band ranges between Rs 440 – 463 per equity share. The allotment of shares is likely to be finalised on October 30 by the registrar of the issue. The listing on NSE and BSE is likely to be finalised on November 04. A retail buyer needs a minimum investment of Rs 14,816 to bid for a lot of 32 shares, and then in its multiple.
GMP
The company’s shares were commanding a grey market premium of almost 12% in the unofficial market. The GMP indicates listing gains. The grey market is an irregulated place where shares are traded illegally ahead of listing.
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Objectives behind IPO
The company proposes to utilise the raised money to fund capital expenditure towards the purchase of construction equipment, long-term working capital requirements, payment of outstanding borrowings, acceptances availed by the company, and other general corporate purposes.
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About Afcons Infrastructure
The flagship infrastructure company of Shapoorji Pallonji Gorup’s Afcons Infrastructure is an engineering and construction company, with a legacy of over six decades. The company has finished 76 projects across 15 nations. The company is globally present in Asia, Africa, and West Asia.
BRLMs and Registrar
ICICI Securities, Dam Capital Advisors (Formerly IDFC Securities), Jefferies India, Nomura Financial Advisory And Securities (India), Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers of the IPO. Link Intime India is the registrar for the issue.
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