The highly anticipated IPO for Afcons Infrastructure Ltd, a flagship company under the Shapoorji Pallonji Group, saw a strong investor response, with subscriptions closing on October 29. The focus now shifts to the allotment process, set to finalize today, October 30. Here’s a comprehensive overview of the subscription details, allotment process, and key dates investors need to know.
Afcons Infrastructure IPO Subscription Overview
Afcons Infrastructure’s IPO opened on October 25, closing successfully on October 29, with a price band between Rs 440 and Rs 463 per share. The IPO raised Rs 5,430 crore at the top price range, split between a fresh issue of Rs 1,250 crore (2.7 crore shares) and an Offer for Sale (OFS) worth Rs 4,180 crore (9.03 crore shares). The overall subscription rate was 2.63 times the base offer:
- Qualified Institutional Buyers (QIB): Subscribed 3.79 times, reflecting robust institutional interest.
- Non-Institutional Investors (NII): Subscribed 5.05 times, indicating strong demand from high-net-worth investors.
- Retail Category: Subscribed 94%, suggesting cautious but steady interest from retail investors.
Important Dates for Investors
- Allotment Finalization: Expected to be completed today, October 30.
- Demat Credit: Shares will be credited to successful allottees’ demat accounts by October 31.
- Refunds: Refunds for unallocated applications are anticipated to be processed on October 31.
- Listing Date: Shares are expected to debut on the BSE and NSE on November 4.
How to Check Allotment Status
Investors can check their IPO allotment status via two main online portals: the BSE website and the Link Intime India website, the IPO’s official registrar.
- BSE Website: BSE Allotment Status.
- Select “Equity” as the Issue Type and “Afcons Infrastructure Limited” as the Issue Name.
- Enter your Application Number or PAN, complete the captcha, and click “Search” to view your status.
- Link Intime India Website: Link Intime IPO Status.
- Choose “Afcons Infrastructure Limited” from the dropdown menu.
- Search using PAN, Application Number, DP ID, or Account Number as needed, and click “Search” to see your allotment.
Grey Market Premium (GMP)
Afcons Infrastructure’s current grey market premium (GMP) is Rs 0, meaning the shares are trading flat in the unofficial market with neither a premium nor a discount to the IPO price. This neutral GMP indicates stable but cautious investor sentiment, with the expected listing price closely aligned to the IPO’s upper range at Rs 463 per share. However, the actual listing performance may vary based on broader market conditions.
Company Background
Afcons Infrastructure Ltd is a prominent infrastructure developer specializing in sectors like transportation, marine infrastructure, and oil & gas. As part of the Shapoorji Pallonji Group, Afcons has a proven track record in high-quality project execution, making it well-suited for expanding opportunities in both domestic and international infrastructure markets.
Lead Managers and Registrar
The Afcons Infrastructure IPO was managed by leading financial institutions, including ICICI Securities, SBI Capital Markets, and Nomura Financial Advisory. Link Intime India serves as the IPO registrar, overseeing the allotment and refund process.
With allotments expected today, investors should closely monitor the listing, as the flat GMP hints at a stable but measured market response. For long-term investors, Afcons represents an opportunity to invest in a reputable company with substantial growth potential in infrastructure.
Disclaimer: This information is for informational purposes only and should not be construed as financial advice. Investing in IPOs involves risks, and past performance is not indicative of future results. Investors should conduct their own research and consult with a financial advisor before making any investment decisions.
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