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Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infrastructure, a subsidiary of the Shapoorji Pallonji Group, lists at Rs 426 on the National Stock Exchange, a discount of 8% to the issue price. The company’s IPO successfully raised Rs 5,430 crore, which includes a fresh issue of 2.7 crore shares amounting to Rs 1,250 crore and an offer for sale of 9.03 crore shares valued at Rs 4,180 crore. The company kept 596,659 shares for the employees. These shares were offered to the employees at a discount of Rs 44 to the issue price.
Live Updates 13:41 (IST) 4 Nov 2024 Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infra at day’s high
Shares of Afcons Infrastricture rises 11.4% to an intraday high of Rs 474.70 from its listing price. The company hit the D-Street at a price of Rs 426, a discount of 8% to the issue price. The company opened its IPO on October 25 and closed on October 30.
13:10 (IST) 4 Nov 2024 Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Mehta Equities Gives Target of Rs 500 for Afcons Infrastructure
Despite Afcons Infrastructure’s listing falling below the issue price, market analysts maintain a positive outlook on the company’s long-term growth potential. Tapse emphasized that the investment rationale is supported by a robust order book, a proven track record in executing complex Engineering, Procurement, and Construction (EPC) projects both domestically and internationally, and stable financial performance over the years. He highlighted the efficiency of the management team as a key factor in driving the company to greater heights.
For investors who received allotments, Tapse recommends holding shares for the long term, citing the government’s focus on infrastructure development as a significant growth driver. He also suggests that short-term traders consider holding or accumulating shares on dips, with a target price set between Rs 480 and Rs 500.
12:56 (IST) 4 Nov 2024 Afcons Infrastructure Share Price, IPO Listing 2024 Live Updates: Afcons Infrastructure Sees Strong Buying Interest After Lackluster Debut
Afcons Infrastructure’s shares had a subdued start on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) but later attracted significant buying interest from investors. The stock debuted at Rs 430.05 on the BSE and opened at Rs 426 on the NSE.
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