Afcons Infrastructure listed at 8% discount

4 Nov 2024 , 10:11 AM

Afcons Infrastructure debuted at ₹426 on the National Stock Exchange, reflecting an 8% discount to its issue price.
Afcons Infrastructure received a muted response during its three-day subscription period. The issue concluded with 2.63 times oversubscription.

The Shapoorji Pallonji Group company launched its IPO on October 25, raising ₹5,430 crore through fresh shares and an offer for sale. The issue was available for subscription from October 25 to October 29. The share allotment was finalized on October 30. The IPO price band was set between ₹440 and ₹463 per equity share.

With 6 decades of experience, Afcons is an infrastructure engineering and construction firm (EPC). It has successfully completed 76 projects across 15 countries, with a total executed contract value of ₹52,220 crore. The company operates globally in Asia, Africa, and West Asia.

The IPO was managed by book-running lead managers ICICI Securities, DAM Capital Advisors, Jefferies India, Nomura Financial Advisory and Securities, Nuvama Wealth Management, and SBI Capital Markets. Link Intime India served as the registrar for the issue.