The highly anticipated Afcons Infrastructure IPO has officially opened for subscription today, October 25, 2024. This article provides live updates on the IPO’s grey market premium (GMP), subscription status, and key details that potential investors should consider.
Afcons Infrastructure IPO Overview
- IPO Opening Date: October 25, 2024
- IPO Closing Date: October 29, 2024
- Price Band: ₹440 to ₹463 per equity share
- Face Value: ₹10 per equity share
- Total Issue Size: ₹5,430 crore
Afcons Infrastructure Ltd., part of the Shapoorji Pallonji Group, is a leading infrastructure engineering and construction firm known for its expertise in delivering complex engineering, procurement, and construction (EPC) projects both in India and internationally. The company has a robust order book valued at approximately ₹317.47 billion, with ongoing projects across 12 countries.
Current Subscription Status
As of now, the subscription status for the Afcons Infrastructure IPO is eagerly awaited. Investors are keen to see how the public responds to this significant offering.
- Subscription Period: October 25 – October 29, 2024
- Expected Allotment Date: November 1, 2024
- Listing Date: November 3, 2024
Grey Market Premium (GMP)
The Afcons Infrastructure IPO is currently trading at a grey market premium of ₹60, indicating that investors are willing to pay more than the issue price. This premium suggests an estimated listing price of around ₹523, which is approximately 12.96% higher than the upper end of the IPO price band.
GMP Insights
- Current GMP: ₹60
- Estimated Listing Price: ₹523
- Previous GMP Range: Fluctuated between ₹0 and ₹225 in recent sessions.
Anchor Investor Participation
Ahead of the IPO opening, Afcons Infrastructure successfully secured ₹1,621 crore from anchor investors, which is a positive indicator of institutional confidence in the company. Notable participants include:
- HDFC Mutual Fund
- ICICI Prudential Mutual Fund
- BlackRock
- Fidelity Investments
- Goldman Sachs
The allocation was made at the upper limit of the price band at ₹463 per share.
Expert Opinions on Investment
Market analysts have shared their views on whether investors should consider subscribing to the Afcons Infrastructure IPO:
- Analysts suggest that given Afcons’ strong track record in executing complex projects and its extensive order book, it presents a compelling investment opportunity.
- Some experts recommend applying for this IPO due to its potential for long-term growth in the infrastructure sector as India continues to invest heavily in infrastructure development.
Conclusion: Should You Subscribe?
With a solid foundation and promising growth prospects, investors looking for exposure in the infrastructure sector may find the Afcons Infrastructure IPO appealing. However, as always, potential investors should conduct thorough research and consider their financial goals before making any investment decisions.
Disclaimer: The information provided in this article is for informational purposes only and should not be considered investment advice. Investors are encouraged to conduct their own research or consult with financial professionals before making any investment decisions regarding stocks or other securities.
This overview aims to keep investors informed about the Afcons Infrastructure IPO as it unfolds while emphasizing informed decision-making in investing.
