MAINBOARD · NSE + BSESubscribed: 2.63×GMP ₹15
Afcons Infrastructure Limited

Afcons Infrastructure Limited

Afcons Infrastructure Limited(AFCONS)

Total Shares

11,72,78,618

Issue Size

₹5,430.00

Price Band

₹440 – ₹463

Lot Size

32 shares

Min. Investment

₹14,816

Max. Investment

₹14,816

Open Date

25 Oct, 2024

Close Date

29 Oct, 2024

Allotment

30 Oct, 2024

Listing

04 Nov, 2024

Announced

25 Oct, 2024

Opening Date

25 Oct, 2024

Closing Date

29 Oct, 2024

Basis of Allotment

30 Oct, 2024

Initiation of Refunds

31 Oct, 2024

Credit of Shares

31 Oct, 2024

Listing Date

04 Nov, 2024

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Est. Listing: ₹551

₹88

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About Afcons Infrastructure Limited IPO

Incorporated in 1959, Afcons Infrastructure Limited is an infrastructure engineering and construction company of the Shapoorji Pallonji group, with a legacy of over six decades.

As of September 30 2023, the company has completed 76 projects across 15 countries with a total historic executed contract value of Rs 522.20 billion.

As of September 30, 2023, the company has 67 active projects across 13 countries, totaling an order book of Rs 348.88 billion.

The company is glob

Afcons Infrastructure Limited IPO Share Price and Issue Size

Issue Breakdown

Total Issue11,72,78,618 shares₹5,430.00
Fresh Issue2,69,97,840 shares₹1,250.00 Cr
Offer for Sale9,02,80,778 shares₹4,180.00 Cr

Shareholding

Pre-Issue34,07,38,269
Post-Issue36,77,36,109

Dilution: 7.9% increase in shares

Afcons Infrastructure Limited IPO Financials Health

Afcons Infrastructure Limited IPO Valuation

MetricValue
No data available

(All values in CR)

Strength & Risk of Afcons Infrastructure Limited IPO

+Strengths

1. Strong Track Record of Timely Execution of Large-Scale, Complex and High-Value Projects.

2. Diversified Order Book across Geographies, Clients, and Business Verticals, Longstanding Relationships with Clients Globally, and Strong Financial Performance.

3. Collaboration among Internal Teams and with JV counterparties, and a Strategic Equipment Base leading to Strong Execution Capabilities.

4. Knowledge Management and Innovation Practices.

5. Experienced Leadership Team with Shapoorji Pallonji Group parentage.

6. Strong Risk Management, Project Selection and Dispute Resolution Processes.

!Risks

1. If the company fails to qualify for, or win new contracts from project owners, its business, financial condition, result of operations, prospects and cash flows could be adversely affected.

2. The company's business significantly depends on projects awarded by government or government-owned customers, which subjects the company to a variety of risks. Such projects contributed to 69.80% of the company's Orders Book as of June 30, 2024.

59. A portion of the Net Proceeds may be utilized for prepayment and / or re-payment of all, or a portion of, certain outstanding borrowings availed by the Company from State Bank of India, which is an affiliate of one of the Book Running Lead Managers, i.e., SBI Capital Markets Limited.

60. One of it's group companies and a member of the Promoter Group, Shapoorji Pallonji Finance Private Limited (SPFPL) is registered as a non-banking financial company not accepting public deposits with the RBI and is subject to periodic inspections by the RBI, and any non-compliance with observations made by the RBI during these inspections could result in penalties and restrictions being imposed on SPFPL.

61. The SP Group relies on dividends from its Company as a source of income and cash flows. Any reduction or delay in the declaration or payment of dividends by the Company may adversely affect the financial position and liquidity of the SP Group.

62. Certain amounts which have been recognized as contract assets relate to uncertified work or contract variations which are under arbitration. its may be required to write-off such assets if the company clients does not certify such work or if arbitration proceedings are not decided in its favor.

63. Certain government authorities are seeking royalties / penalty payments from the company for the alleged illegal use of minerals (Murrum) in the construction of a project. The company has filed a writ petition challenging such royalties / penalty payments. If the company writ petition is not allowed, its may be required to pay such royalties / penalties, which may adversely affect its results of operations and financial condition.

64. The Company is subject to risks relating to fluctuations in prices of raw materials on overseas projects.

65. A part of the company Order Book is in early stages of execution and may be subject to delays, cancellations,cost overruns or disputes, which could adversely affect its business, financial condition and results of operations.

66. The company may not be able to recognize unbilled revenues in a timely manner or at all, which may adversely affect its financial condition and results of operations.

Afcons Infrastructure Limited IPO Subscription Status

Investor CategorySubscription (times)Shares OfferedShares bid forTotal Amount (Rs Cr.)
Anchor1.003,50,21,5973,50,21,5971
BHNI (10L+)6.301,22,84,0927,74,50,4003
Employees1.676,31,31310,55,29648.86
HNI5.051,84,26,1379,30,45,7604
QIB3.792,45,68,1819,31,44,8004
Retail0.944,29,94,3194,05,67,8721
SHNI (2L - 10L)2.5461,42,0451,55,95,360722.07
Total2.638,66,19,95022,78,13,72810

Afcons Infrastructure Limited IPO GMP

+₹88+19.0%

Last updated 21 Oct, 2024 · Source: aggregated grey-market dealers

DateIPO PriceGMPSub2 SaudaEst. ListingEst. ProfitUpdated
21 Oct, 2024463₹88▲2100/29400₹551 (19.01%)-21 Oct, 2024
22 Oct, 2024463₹70▲1700/23800₹533 (15.12%)-22 Oct, 2024
23 Oct, 2024463₹45▼1100/15400₹508 (9.72%)-23 Oct, 2024
24 Oct, 2024463₹75▲1800/25200₹538 (16.20%)-24 Oct, 2024
25 Oct, 2024463₹60▲1500/21000₹523 (12.96%)-25 Oct, 2024
26 Oct, 2024463₹15▼400/5600₹478 (3.24%)-26 Oct, 2024
29 Oct, 2024463₹31▲800/11200₹494 (6.70%)-29 Oct, 2024
30 Oct, 2024463₹0▲--₹463 (0.00%)-30 Oct, 2024
01 Nov, 2024463₹-3▼--₹460 (-0.65%)-01 Nov, 2024
04 Nov, 2024463₹15400/5600₹478 (3.24%)-04 Nov, 2024

Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.

How to Apply for Afcons Infrastructure Limited IPO

1

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2

Go to IPO Section

Find Afcons Infrastructure Limited under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).

3

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Provide your UPI ID linked to your bank account and submit the application.

4

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5

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Your funds will be blocked in your account until the IPO allotment process is completed.

 Afcons Infrastructure Limited IPO

 IPO Overview and Key Highlights

Afcons Infrastructure Limited is launching its Initial Public Offering (IPO), including a fresh issue up to Rs12,500 million and an Offer for Sale (OFS) of up to Rs41,800 million. This IPO will be listed on both NSE and BSE. Afcons Infrastructure aims to utilize the fresh issue proceeds for various corporate needs, including debt repayment, working capital, and general corporate expenses?.

 Key IPO Details

  • Type of Issue: Book Built Issue
  • Total Issue Size: Up to Rs54,300 million (Fresh Issue + OFS)
  • Fresh Issue Size: Up to Rs12,500 million
  • Offer for Sale (OFS): Rs41,800 million by Goswami Infratech Private Limited
  • Face Value: Rs10 per share
  • Offer Opens: October 25, 2024
  • Offer Closes: October 29, 2024?

 Company Overview

Afcons Infrastructure Limited is a well-established company in the construction and engineering sector with a history tracing back to 1959. The company specializes in large-scale infrastructure projects, including marine works, bridges, tunnels, and transportation. Headquartered in Mumbai, Afcons has developed a reputation for delivering complex projects on time and with high quality.

 Financial Overview

Afcons has shown steady financial growth over recent years, supported by a diverse portfolio of infrastructure projects. This IPO is expected to strengthen Afcons' balance sheet and help it meet growing infrastructure demands across India and overseas.

 Key Strengths of Afcons Infrastructure Limited

  1. Proven Track Record: Afcons has extensive experience in executing challenging infrastructure projects.
  2. Global Reach: The company’s projects span several countries, giving it access to international markets.
  3. Strong Promoter Support: The Shapoorji Pallonji Group’s backing provides stability and strategic direction?.

 IPO Pros and Cons

 Pros

  • Sector Growth: Increasing investments in infrastructure development in India offer Afcons numerous growth opportunities.
  • Diverse Project Portfolio: The company’s expertise across multiple infrastructure domains mitigates risks associated with dependency on a single sector.
  • Strong Promoter Support: Afcons benefits from the financial and strategic support of the Shapoorji Pallonji Group?.

 Cons

  • Heavy Dependence on Government Contracts: A large portion of Afcons' revenue is tied to government projects, which are susceptible to delays and funding challenges.
  • Competitive Market: The infrastructure sector is highly competitive, with several established players.
  • First Public Issue: As this is Afcons' first IPO, there is uncertainty about the stock's post-listing performance?.

 Risk Factors

Investors should consider several potential risks:

  • Economic and Policy Risks: Changes in government infrastructure spending or policy shifts could impact Afcons' project pipeline.
  • Execution Risks: Delays or cost overruns in large infrastructure projects could affect profitability.
  • Competitive Pressure: The presence of strong competitors may impact Afcons' ability to secure new contracts and maintain profit margins?.

Conclusion

The Afcons Infrastructure Limited IPO presents a solid opportunity for investors seeking exposure to the growing infrastructure sector. With a reputable track record, experienced management, and strong promoter support, Afcons is well-positioned for future growth. However, potential investors should carefully consider market competition, dependency on government projects, and execution risks before investing.



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Analysis of Afcons Infrastructure Limited IPO

H1: IPO Overview and Key Highlights

Afcons Infrastructure Limited is launching its Initial Public Offering (IPO), including a fresh issue up to Rs 12,500 million and an Offer for Sale (OFS) of up to Rs 41,800 million. This IPO will be listed on both NSE and BSE. Afcons Infrastructure aims to utilize the fresh issue proceeds for various corporate needs, including debt repayment, working capital, and general corporate expenses?.

H2: Key IPO Details

  • Type of Issue: Book Built Issue
  • Total Issue Size: Up to Rs 54,300 million (Fresh Issue + OFS)
  • Fresh Issue Size: Up to Rs 12,500 million
  • Offer for Sale (OFS): Rs 41,800 million by Goswami Infratech Private Limited
  • Face Value: Rs 10 per share
  • Offer Opens: October 25, 2024
  • Offer Closes: October 29, 2024?.

H2: Company Overview

Afcons Infrastructure Limited is a well-established company in the construction and engineering sector with a history tracing back to 1959. The company specializes in large-scale infrastructure projects, including marine works, bridges, tunnels, and transportation. Headquartered in Mumbai, Afcons has developed a reputation for delivering complex projects on time and with high quality.

H2: Financial Overview

Afcons has shown steady financial growth over recent years, supported by a diverse portfolio of infrastructure projects. This IPO is expected to strengthen Afcons' balance sheet and help it meet growing infrastructure demands across India and overseas.

H3: Key Strengths of Afcons Infrastructure Limited

  1. Proven Track Record: Afcons has extensive experience in executing challenging infrastructure projects.
  2. Global Reach: The company’s projects span several countries, giving it access to international markets.
  3. Strong Promoter Support: The Shapoorji Pallonji Group’s backing provides stability and strategic direction?.

H2: IPO Pros and Cons

H3: Pros

  • Sector Growth: Increasing investments in infrastructure development in India offer Afcons numerous growth opportunities.
  • Diverse Project Portfolio: The company’s expertise across multiple infrastructure domains mitigates risks associated with dependency on a single sector.
  • Strong Promoter Support: Afcons benefits from the financial and strategic support of the Shapoorji Pallonji Group?.

H3: Cons

  • Heavy Dependence on Government Contracts: A large portion of Afcons' revenue is tied to government projects, which are susceptible to delays and funding challenges.
  • Competitive Market: The infrastructure sector is highly competitive, with several established players.
  • First Public Issue: As this is Afcons' first IPO, there is uncertainty about the stock's post-listing performance?.

H2: Risk Factors

Investors should consider several potential risks:

  • Economic and Policy Risks: Changes in government infrastructure spending or policy shifts could impact Afcons' project pipeline.
  • Execution Risks: Delays or cost overruns in large infrastructure projects could affect profitability.
  • Competitive Pressure: The presence of strong competitors may impact Afcons' ability to secure new contracts and maintain profit margins?.

H1: Conclusion

The Afcons Infrastructure Limited IPO presents a solid opportunity for investors seeking exposure to the growing infrastructure sector. With a reputable track record, experienced management, and strong promoter support, Afcons is well-positioned for future growth. However, potential investors should carefully consider market competition, dependency on government projects, and execution risks before investing.

FAQs About Afcons Infrastructure Limited Ipo

Afcons Infrastructure Limited IPO will open on 25 Oct, 2024 and close on 29 Oct, 2024. Investors must apply within this period to participate.

The Afcons Infrastructure Limited IPO price band is set between ₹440.00 and ₹463.00 per share. The minimum lot size is 32, requiring an investment of at least ₹14816.00.

The Afcons Infrastructure Limited IPO shares are expected to be listed on 04 Nov, 2024, subject to regulatory approvals and final allotment.

You can track your Afcons Infrastructure Limited IPO application status on the registrar’s website: Link Intime or KFintech using your PAN, application number, or DP ID

The Afcons Infrastructure Limited IPO will be listed on major stock exchanges such as NSE and BSE, where you can trade shares once they are listed.