Afcons Infrastructure Limited’s initial public offering (IPO) is concluding today, October 29, 2024. Launched on October 25, the IPO aims to raise ₹5,430 crore through a combination of fresh equity shares and an offer for sale (OFS), with a price band set between ₹440 and ₹463 per equity share.
Subscription Status
As of 2:51 PM on the final day of bidding, the IPO was subscribed 1.96 times overall:
- Non-Institutional Investors (NII): 4 times
- Qualified Institutional Buyers (QIB): 2.70 times
- Retail Segment: 0.68 times
Grey Market Premium (GMP)
The Grey Market Premium for Afcons Infrastructure’s shares has risen to ₹25, an increase from ₹18 on Monday. This uptick reflects positive investor sentiment, driven by a broader rally in the Indian stock market earlier in the week.
Institutional Interest
Afcons Infrastructure has received significant backing from several leading brokerage houses, all of which have assigned a “subscribe” rating to the IPO. Among the supportive institutions are:
- Anand Rathi
- Arihant Capital Markets
- BP Equities
- Canara Bank Securities
- Geojit Securities
- KR Choksey Securities
These brokerages highlight Afcons’ solid reputation in the infrastructure sector and its strong financial position as key reasons to consider the investment.
Company Overview
Afcons Infrastructure is an established player in large-scale infrastructure projects. The ₹5,430 crore IPO encompasses both fresh equity shares and an OFS, enabling the company to raise capital while offering existing shareholders a chance to exit.
Investor Outlook
Although retail investor response has been relatively slow, the robust interest from institutional investors and the rising GMP suggest a positive outlook for the IPO’s performance post-listing. If the broader market remains favorable, Afcons Infrastructure is likely to experience strong demand in both primary and secondary markets.
Today is the last chance for investors to participate in this significant IPO.
Disclaimer: This information is for educational purposes only and does not constitute financial advice. Investors should conduct their own research or consult with a financial advisor before making any investment decisions. Past performance is not indicative of future results.
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