Afcons Infrastructure IPO – Review, Bid, Size, Allotment, Subscription, GMP & RHP
Last Updated Date: Apr 14, 2024Let’s have a detailed review of the company and analytics of the Afcons Infrastructure IPO release date, IPO offer price, subscription, Afcons Infrastructure Limited IPO allotment, grey market price, and other details like the company’s background, its financial positions, its promoters, and other related things.
| Face Value | Rs 10 |
| Price Band | Rs [●] |
| Listing At | BSE, NSE |
| Min. Order Quantity | NA Shares |
| Listing Date | NA |
| Offer for Sale | Rs 57,500 Million |
| Fresh Issue | Rs 12,500 Million |
| IPO Size | Rs 70,000 Million |
| Tick Size | 1 |
Afcons Infrastructure IPO is listed at a [●] premium. Check out the live share price by clicking on the below link.
| Live Performance – Afcons Infrastructure Share Price |
Afcons Infrastructure IPO – Summary
They are the flagship infrastructure engineering and construction company of the Shapoorji Pallonji group, a diversified Indian conglomerate, and have a legacy of over six decades.
They have a strong track record of executing numerous complex, challenging and unique EPC projects both within India and internationally. According to the Fitch Report, they are one of India’s largest international infrastructure companies, as per the 2023 ENR Top International Contractors rankings.
The Promoter of this company is GOSWAMI INFRATECH PRIVATE LIMITED, SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED AND FLOREAT INVESTMENTS PRIVATE LIMITED. The lead manager of the issue is ICICI Securities Limited, DAM Capital Advisors Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities, Nuvama Wealth Management Limited and SBI Capital Markets Limited, and the Registrar of this issue is Link Intime India Private Limited.
Afcons Infrastructure IPO Date
The opening and closing dates of the Afcons Infrastructure IPO are not available yet.
Afcons Infrastructure IPO Subscription
| Day / Date | QIB | NII | RII | Total Subscription |
| 1st Day – | ||||
| 2nd Day – | ||||
| 3rd Day – | ||||
| Shares Offered or Net Issue |
The shares subscribed by the public will be updated here.
Afcons Infrastructure IPO Allotment Status
Here, you can find the Allotment Status of this IPO.
Allotment of Equity Shares pursuant to the Fresh Issue and transfer of the Offered Shares of the Promoter Selling Shareholders pursuant to the Offer for Sale to the successful Bidders. However, the Allotment Status is not yet disclosed.
Afcons Infrastructure Limited IPO Listing Date
Find the dates below on basis of allotment, refund, listing, and more:
| Basis of Allotment Finalization | – |
| Refunds Initiation | – |
| Credit of Shares to Demat Account | – |
| Share Listing Date | – |
Afcons Infrastructure IPO Price Band
The face value of each share is Rs.10, but the price band of the IPO is Rs.[●]
Afcons Infrastructure IPO Equity Size
This Initial Public Issue of X Equity Shares of Rs.10 each for cash at a price of Rs.[●] per equity share aggregating to Rs.70,000 Million.
Afcons Infrastructure IPO Share Offering
Fresh Issue: The Issue (excluding the Market Maker Reservation Portion) of [●] Equity Shares of Rs.10/ each.
Issue Size: X Equity Shares of Rs.10 each, aggregating to Rs.70,000 Million
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Afcons Infrastructure IPO – Live Performance
The listing date of this IPO is [●]. You can check the live performance of the IPO here, only after it is listed on exchanges.
| Live IPO Performance – Afcons Infrastructure Share Price |
Afcons Infrastructure IPO Grey Market Premium
The Afcons Infrastructure Limited IPO Grey Market Premium price is Rs X, the Kostak rate is Rs X and the Subject to Sauda is Rs X.
Afcons Infrastructure IPO – Company Overview
During the period comprising the last ten financial years and the six-month period ending September 30, 2023, they have successfully completed 76 projects across 15 countries with a total historic executed contract value of ₹522.20 billion.
As of September 30, 2023, they have 67 active projects across 13 countries, aggregating to an order book of ₹348.88 billion. Among large infrastructure construction companies in India analysed in the Fitch Report, they had the highest ROCE and ROE margins for the Financial Year 2023.
Over the years, they have expanded their presence globally and in particular across Asia, Africa and the Middle East. They have undertaken many complex, challenging, unique and ‘first of its kind’ infrastructure projects in India and the rest of the world.
Afcons Infrastructure IPO – Financial Statements
A quick look into the past financial performance of the company to understand its performance of the business and evaluate the growth prospectus:
Financial Summary:
| Amount (in INR & Million) | ||||
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Total Assets | 1,61,787.03 | 1,43,012.50 | 1,29,737.67 | 1,24,899.41 |
| *Total Revenue | 66,553.51 | 1,28,440.90 | 1,12,695.49 | 95,211.24 |
| Total Expense | 63,679.20 | 1,22,450.15 | 1,08,629.97 | 92,306.11 |
| Profit After Tax | 1,951.27 | 4,108.60 | 3,576.05 | 1,699.07 |
Earnings per Equity Share (in Million)
| 30-Sep-23 | 31-Mar-23 | Mar-22 | 31-Mar-21 | |
| Basic & Diluted | 5.73 | 12.06 | 10.49 | 4.99 |
Further, their PAT for the period ended on March 31, 2023, March 31, 2022, and March 31, 2021, were Rs. 4,108.60 Million, Rs. 3,576.05 Million and Rs. 1,699.07 Million respectively.
Afcons Infrastructure IPO – Promoters
The Promoter of this company is:
- GOSWAMI INFRATECH PRIVATE LIMITED,
- SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED
- FLOREAT INVESTMENTS PRIVATE LIMITED
List of Related Parties (Key Managerial Personnel)
- Shapoorji Pallonji Mistry, Chairman and Non-Executive Director
- Subramanian Krishnamurthy, Executive Vice Chairman
- Paramasivan Srinivasan, Managing Director
- Giridhar Rajagopalan, Deputy Managing Director
Afcons Infrastructure IPO – Promoters Holding
- Pre-Issue Share Holding – %
- Post-Issue Share Holding – %
Afcons Infrastructure IPO Offer Details or Issue Details
| Particulars | No. Of Equity Shares |
| Equity Shares Offered | Up to X Equity Shares aggregating up to Rs.70,000 Million |
| of which: | |
| Issue Reserved for the Market Makers | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Net Issue to the Public | Up to [●] Equity Shares aggregating up to Rs.[●] Million |
| Of which: | |
| Retail Investors Portion | Not less than [●] Equity Shares |
| Other than Retail Individual Investors | Not more than [●] Equity Shares |
| Equity Shares outstanding prior to the Issue | 340,738,269 Equity Shares |
| Equity Shares outstanding after the Issue | X Equity Shares |
Afcons Infrastructure IPO Issue Object
Their Company proposes to utilize the Net Proceeds towards funding the following objects:
- Capital expenditure towards the purchase of construction equipment
- Funding long-term working capital requirements
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by their Company
- General corporate purposes
Afcons Infrastructure IPO – Business Strategy
- Selectively Pursue Large Value and Complex Projects
- Maximizing Opportunities in Existing Markets and Expanding Footprint in Overseas Markets
- Focus on Cost Management
- Optimizing Project Execution and Management
Afcons Infrastructure IPO – Basis of Offer Price
The issue price is determined by the company in consultation with the Lead manager on the basis of the following qualitative and quantitative factors.
Qualitative factors are:
- Strong Track Record of Timely Execution of Large-Scale, Complex and High-Value Projects;
- Diversified Order Book across Geographies, Clients, and Business Verticals, Longstanding Relationships with Clients Globally, and Strong Financial Performance;
- Collaboration among Internal Teams and with JV counterparties, and a Strategic Equipment Base leading to Strong Execution Capabilities;
- Knowledge Management and Innovation Practices;
- Experienced Leadership Team with Shapoorji Pallonji Group parentage; and
- Strong Risk Management, Project Selection and Dispute Resolution Processes.
The relevant quantitative factors are:
| Basic & Diluted EPS | RONW (%) | NAV (Rs.) | |
| 31-Mar-23 | 12.06 | 13.02% | 92.59 |
| 31-Mar-22 | 10.49 | 13.29% | – |
| Mar-21 | 4.99 | 7.17% | – |
Afcons Infrastructure IPO: Competitive Peers
| Face Value (Rs.) | P/E | EPS (Rs.) | Return on Net Worth (%) | Total Income (Rs. in Crores) | |
| Afcons Infrastructure Limited | 10 | [●] | 12.06 | 13.02% | 126,373.82 |
| Listed Peers | |||||
| Larsen & Toubro Limited (L&T) | 2 | 48.49 | 74.51 | 11.80% | 1,833,407.00 |
| KEC International Limited (KEC) | 2 | 97.21 | 6.85 | 4.80% | 172,817.10 |
Afcons Infrastructure IPO Lead Managers
| Lead Managers |
|
ICICI Securities Limited DAM Capital Advisors Limited Jefferies India Private Limited Nomura Financial Advisory and Securities Nuvama Wealth Management Limited SBI Capital Markets Limited |
Afcons Infrastructure IPO Registrar to offer
| Registrar to the Offer |
| Link Intime India Private Limited C-101, 1st Floor, 247 Park L.B.S. Marg, Vikhroli (West) Mumbai 400 083 Maharashtra, India Telephone: +91 810 811 4949 E-mail: afconsinfrastructure.ipo@linkintime.co.in Investor Grievance ID: afconsinfrastructure.ipo@linkintime.co.in Website: www.linkintime.co.in Contact person: Shanti Gopalkrishnan SEBI Registration No.: INR000004058 |
Afcons Infrastructure IPO – Other Details
- Statutory Auditor – NA
- Legal Counsel to the Company – NA
- Bankers to the Company – NA
Afcons Infrastructure IPO Review by Stock Brokers
| Top Stock Brokers Review | Company Reputation | Competitive Edge | Financial Statement | Popularity Index | Promoters Reputation |
| Angel Broking | 7.5/10 | 7.4/10 | 8.5/10 | 8.1/10 | 7.1/10 |
| Sharekhan | 7.2/10 | 7.1/10 | 8.6/10 | 8.1/10 | 7.2/10 |
| Kotak Securities | 7.3/10 | 7.5/10 | 8.4/10 | 8.1/10 | 7.3/10 |
| ICICI Direct | 7.3/10 | 7.3/10 | 8.7/10 | 8.1/10 | 7.1/10 |
| IIFL | 7.5/10 | 7.2/10 | 8.8/10 | 8.0/10 | 7.1/10 |
| Edelweiss | 7.5/10 | 7.4/10 | 8.4/10 | 8.3/10 | 7.2/10 |
| Zerodha | 7.4/10 | 7.1/10 | 8.5/10 | 8.1/10 | 7.0/10 |
| 5Paisa | 7.1/10 | 7.1/10 | 8.4/10 | 8.1/10 | 7.1/10 |
| Karvy | 7.4/10 | 7.3/10 | 8.2/10 | 8.1/10 | 7.1/10 |
| Motilal Oswal | 7.1/10 | 7.1/10 | 8.6/10 | 8.3/10 | 7.2/10 |
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Afcons Infrastructure Limited IPO News
News 1 – IPO DRHP Download
News 2 – IPO RHP Prospectus Download
Afcons Infrastructure IPO Review FAQs
Check out various FAQs related to Afcons Infrastructure IPO:
What is the Issue Size of Afcons Infrastructure IPO?
The Company is making an initial public offer of NA equity shares. They vividly portray the aspects of the issue in this article. You can check the stats on the fresh issue, Offer for sale, and net issue.
What is the Price band of Afcons Infrastructure IPO?
The price band for this particular IPO ranges between Rs NA. As far as the face value of the share is concerned, it is Rs. 10 per share.
What is the Afcons Infrastructure IPO Open Date?
The opening and closing dates for this IPO have been updated. The IPO is set to open on NA, while the closing date is set at NA.
What is the Afcons Infrastructure IPO Allotment Date?
They also have the news regarding the respective allotment dates of this IPO. The basis of Allotment finalization is on NA, refund initiation is on NA, credit of shares is on NA, and share listing date is on NA.
What is the Afcons Infrastructure IPO Listing Date?
Shares of this company shall be listed in the exchanges NA. The date, when the listing would be done, is stagnant on NA.
Who is the Registrar of Afcons Infrastructure IPO?
One of the reputed registrars is managing the issue of this IPO, i.e. Link Intime India Private Limited. Their website will help you regarding the further information you are on the lookout for.
Who is the Promoter of Afcons Infrastructure IPO?
Here are the promoters of this IPO – GOSWAMI INFRATECH PRIVATE LIMITED, SHAPOORJI PALLONJI AND COMPANY PRIVATE LIMITED AND FLOREAT INVESTMENTS PRIVATE LIMITED. You can refer to the RHP for further information on the promoter. You will find the link to RHP in the article.
What is the GMP of Afcons Infrastructure IPO?
They have obtained the GMP of this IPO and it is Rs NA. Further insights into the Kostak rate and subject to sauda or SS are as well included in this report.
Is Afcons Infrastructure IPO Good for Investment?
They have further provided the financial status of the company in this article, from the past few years. You can refer to the same, and also check the line of operations they are into and then decide to invest in the IPO.
What is the PAT of Afcons Infrastructure Company?
They have the information on company financials, and according to that, they have the figures from the last few years to provide. PAT for the financial year 2023 in Million is 4,108.60, 2022 is 3,576.05, and 2021 is 1,699.07. PAT from Sep 2023 is 1,951.27.
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