Afcons Infrastructure IPO – GMP, risk factors and all you need to know

Oct 23, 2024

By: Sourabh Jain

Credit: Afcons Infrastructure

Afcons Infrastructure IPO

Mumbai-based Afcons Infrastructure’s initial public offering (IPO) will open on Friday, October 25 and close on Tuesday, October 29.

Credit: Afcons Infrastructure

Price band

Afcons Infrastructure has fixed a price band of ₹440-₹463 per share for its public issue.

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About the company

Afcons Infrastructure is a Mumbai-based infrastructure engineering and construction company which is part of the Shapoorji Pallonji group.

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IPO size

Afcons Infrastructure is looking to raise ₹5,430 crore from the current IPO. This includes a fresh issue of ₹1,250 crore and an offer for sale (OFS) component of ₹4,180 crore.

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Lot size

Investors can bid for a minimum of 32 shares and in multiples of 32 shares thereafter.

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Current operations

Afcons Infrastructure, founded in 1959, has completed 76 projects across 15 countries. The company currently has 67 active projects across 13 countries.

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Financials

The company’s income was ₹13,646.88 crore in FY24, up from ₹12,844.09 crore in FY23. The company reported a profit of ₹449.76 crore in FY24, up from ₹410.86 crore profit reported in FY23.

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Risk factors

The company faces tough competition both domestically and internationally. It has a high amount of outstanding debt.

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Afcons Infrastructure IPO GMP

Afcons Infrastructure is currently commanding a grey market premium (GMP) of ₹45 per share.

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Objectives of the issue

The funds raised will be used for capital expenditure for new equipment, long-term capital requirements, repayment of borrowings and general corporate purposes.

Credit: Afcons Infrastructure

Disclaimer

The content on this website is for informational purposes only and should not be construed as investment advice. We recommend that readers consult certified, qualified, and registered advisors for professional and personalised financial advice.

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