Afcons Infrastructure Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹440 - ₹463
- Lot size
- 32 shares
- Issue amount
- ₹5,430 cr
- Total subscription
- 2.77×
- Opens
- 25 Oct 2024
- Closes
- 29 Oct 2024
- Allotment
- 31 Oct 2024
- Listing
- 4 Nov 2024
Offer at a glance
Issue overview
- Issue size
- 11,73,27,139 shares
- Face value
- ₹10 per share
- Minimum investment
- ₹14,080
- Fresh issue
- ₹1,251.73 cr
- Offer for sale
- ₹4,178.27 cr
- Registrar
- Link Intime India Private Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,816
- Issue type
- Bookbuilding IPO
- Shares before issue
- 34,07,38,269
- Shares after issue
- 36,77,36,109
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 32 | ₹14,816 |
| sHNI | 14 | 448 | ₹2,07,424 |
| bHNI | 68 | 2,176 | ₹10,07,488 |
Share reservation
Subscription & GMP
Subscription by category
Missing multiples are calculated from bids and offered shares when available.
GMP history
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| HNIs (10L+) | 26,058 | 29,993 |
| HNIs (2-10L) | 13,029 | 32,832 |
| RETAIL | 12,76,829 | 7,04,690 |
| Employee | 0 | 13,299 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 1,081 | 4,312.6 |
| RETAIL | 1,891.75 | 1,878.61 |
| HNIs 2+ | 270.25 | 722.13 |
| HNIs 10+ | 540.5 | 3,585.95 |
| EMPLOYEES | 27.63 | 48.88 |
Financial performance
Company financials
in Crore · Reported periods may include interim results.
Key performance indicators
| Metric | Jun-24 | Mar-24 | Mar-23 |
|---|---|---|---|
| EPS | 2.69 | 13.2 | 12.06 |
| ROE | 10.55 | 13.28 | 13.96 |
| ROCE | 14.89 | 20.18 | 20.04 |
| RONW | 2.5 | 12.58 | 13.02 |
| PRE IPO(PE) | 35.08 | 0 | 0 |
| POST IPO(PE) | 46.48 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Afcons Infrastructure Limited, incorporated in 1959 and part of the Shapoorji Pallonji group, is a leading infrastructure engineering and construction company with over six decades of experience. As of September 30, 2023, the company has successfully completed 76 projects across 15 countries, amounting to a total executed contract value of Rs 522.20 billion, and currently manages 67 active projects in 13 countries with an order book of Rs 348.88 billion. Afcons operates through five key business verticals: Marine and Industrial Projects (ports, harbor jetties, dry docks, LNG tanks), Surface Transport Projects (highways, roads, railways), Urban Infrastructure (metro works, flyovers), Hydro and Underground Projects (dams, tunnels, irrigation systems), and Oil & Gas Projects (offshore and onshore). With a strong global presence, the company delivers critical infrastructure solutions across diverse sectors, establishing itself as a trusted partner in complex engineering and construction projects.
Strengths
- Diverse Expertise: Strong capabilities across marine, industrial, surface transport, and urban infrastructure projects.
- Global Presence: Completed and ongoing projects in multiple countries across Asia, Africa, and the Middle East.
- Robust Order Book: Order book of ₹348.88 billion as of Sept 30, 2023, indicating strong demand and project pipeline.
Risk factors
- Contract Dependency: Financial performance is sensitive to winning new contracts and qualifying for key projects.
- Government Reliance: Heavy dependence on government projects exposes the company to policy changes, delays, and funding risks.
- Capital-Intensive Operations: High capital requirements and potential cash flow or financing constraints may impact operations and stability.
Promoters
Goswami Infratech Private Limited
Shapoorji Pallonji and Company Private Limited
Floreat Investments Private Limited
Registrar & documents
Lead manager
Dam Capital Advisors Limited, ICICI Securities Limited, Jefferies India Private Limited, Nomura Financial Advisory And Securities (India) Private Limited, Nuvama Wealth Management Limited, SBI Capital Markets Limited
Registrar & contacts
Link Intime India Private Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Afcons House, 16 Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai,-400053
022 67191214
[email protected]Company website ↗Understanding AFCONS IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.