Afcons Infrastructure Limited IPO

Mainboard

Civil Construction

Listed On: Nov 4, 2024 at ₹ 426.0(NSE)

₹ 14816 /32 Shares

Check Allotment

Price Summary

Last Closing

476.00 (2.81%)

52 Week High

513.50

52 Week Low

420.25

Last Update

19-Nov-2024 3:30 PM

Afcons Infrastructure IPO Details

25 Oct, 2024

Open Date

29 Oct, 2024

Close Date

30 Oct, 2024

Allotment Date

04 Nov, 2024

Listing Date

Issue Price

₹440-463 per equity share

Face Value

₹10 Per Equity Share

Listing at Group

BSE, NSE

Registrar

Link Intime India Private Ltd

List Price

426.0(NSE)

Listing Date

2024-11-04

Market Lot

Retail : 32 Shares (₹14,816/-)
S-HNI : 448 Shares (₹2,07,424/-)
B-HNI : 2,176 Shares (₹10,07,488/-)

Lead Manager

ICICI Securities Limited
Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd)
Jefferies India Private Limited
Nomura Financial Advisory And Securities (India) Pvt Ltd
Nuvama Wealth Management Limited
SBI Capital Markets Limited

Issue Size

Total ₹5,430 Cr :
#Fresh Issue : 26,997,840 shares(aggregating up to ₹1,250 Cr) +
#OFS : 90,280,778 shares of ₹10(aggregating up to ₹4,180 Cr)

Retail Portion

35% (Number of Retail Applications: 12,76,829 Approx),
(Number of S-HNI Applications : 13,029 Approx),
(Number of B-HNI Applications : 26,058 Approx)

Subscription

2.77 times

IPO Docs

DRHP RHP ANCHOR

Afcons Infrastructure IPO Subscription Details

As on	QIB	NII bNII sNII	Retail	Total
Shares Offered / Reserved	24,568,181	17,510,799 11,673,866 5,836,933	40,858,531	61,313,722
Day 1 - 25-10-24 05:00 PM	0.01 x	0.11 0.09 x 0.16 x	0.14 x	0.10 x
Day 2 - 28-10-24 05:00 PM	0.08 x	0.72 0.75 x 0.65 x	0.36 x	0.36 x
Day 3 - 29-10-24 05:00 PM	3.99 x	5.31 6.63 x 2.67 x	0.99 x	2.77 x

Total No. of Applications: 7,80,662 (Approx)

Retail Subscription on the basis of Applications: Retail:0.55x BHNI:1.15x SHNI:2.52x times

Afcons Infrastructure Valuations

EPS Pre IPO

₹13.2/-

EPS Post IPO

₹9.96/-

P/E Pre IPO

35.08

P/E Post IPO

46.48

RoNW

2.5%

Afcons Infrastructure Company Financials All values are in ₹ Cr.

	31-Mar-24	31-Mar-23	31-Mar-22
Assets	16,233.64	14,301.25	12,973.77
Revenue	13,646.88	12,844.09	11,269.55
Profit After Tax	449.76	410.86	357.61

About The Company

Afcons Infrastructure Limited, the flagship engineering and construction arm of the prestigious Shapoorji Pallonji Group, brings over six decades of expertise in delivering a wide range of innovative and complex EPC projects. With a strong reputation for excellence, Afcons is recognized as one of India’s largest international infrastructure companies, according to the 2023 ENR Top International Contractors rankings.

The company operates in the various industries such as transportation, marine, oil & gas, and urban infrastructure. It has also earned its reputation across the world due to its landmark projects in Asia, Africa, and the Middle East. This indicates that the company is concerned with innovation, excellent engineering accuracy, and efficient operation.

Afcons, as a global business and high-class execution entity, makes its future in the infrastructure domain in India and other parts of the world.

Afcons Infrastructure - Strength and Weakness

Strength

Afcons Infrastructure has successfully completed 26 projects across 10 countries, with a total contract value of ₹255,041.42 million.

Globally recognized, Afcons is ranked 10th in marine and port facilities and 12th in bridges by the 2023 ENR rankings.

Afcons' diverse order book has grown from ₹262,484.65 million in 2021 to ₹348,883.91 million in 2023, reflecting strong financial and operational performance.

Afcons has consistently won the MIKE award from 2018 to 2023 for its project management and knowledge practices excellence.

Weakness

Afcons faces bidding risks; it won 6, 16, 16, and 12 projects in 2023, 2023, 2022, and 2021 respectively, and failed bids are non-recoverable.

Heavy reliance on government contracts, which constituted 68.42% of the order book as of September 30, 2023, exposes Afcons to policy and payment delays.

Capital intensity requires significant working capital; as of September 30, 2023, working capital loans stood at ₹13,904.47 million, impacting liquidity.

Afcons Infrastructure - Promoter(s)

Pre Issue Share Holding: N/A%

Post Issue Share Holding: N/A%

Company Promoter(s)

Goswami Infratech Private Limited
Shapoorji Pallonji and Company Private Limited
Floreat Investments Private Limited

Afcons Infrastructure IPO - Issue Objectives

Capital expenditure towards the purchase of construction equipment
Funding long-term working capital requirements
Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by the company
General corporate purposes

Afcons Infrastructure IPO - Anchor Investors

Afcons Infrastructure raises Rs 1,621 crore from anchors.

Marquee global investors like Monetary Authority of Singapore, Blackrock, PGGM World Equity, Fidelity, Goldman Sachs, The Master Trust Bank of Japan, Nomura, BNP Paribas, East Bridge Capital Master Fund, Brinker Capital, Societe Generale, Morgan Stanley, and Florida Retirement System participated.

Domestic institutional investors including LIC Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, ITI Mutual Fund, Nippon Life India, Aditya Birla Sun Life Trustee, Mirae Asset, Quant Mutual Fund, Invesco India, 360 ONE, Whiteoak Capital, Sunil Singhania-backed Abakkus, Sameer Arora-owned Helios Flexi Cap Fund, Mahindra Manulife, Trust Mutual Fund, Vikas Khemani-backed Carnelian, and Madhusudan Kela-backed Chartered Finance & Leasing also invested in the infrastructure company.

Insurance companies including Edelweiss Life Insurance, HDFC Life Insurance, ICICI Prudential Life Insurance, SBI General Insurance, and Reliance Nippon Life Insurance, too, poured in money in Afcons via anchor book.

Other Details

Company Contact Details

Afcons Infrastructure

Afcons House, 16 Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai,-400053

Phone: 022 67191214

Email: gaurang@afcons.com

Website: https://www.afcons.com/en

Registrar Contact Details

Link Intime India Private Ltd

Phone: +91-22-4918 6270

Email: afconsinfrastructure.ipo@linkintime.co.in

Website: https://linkintime.co.in/initial_offer/public-issues.html

Afcons Infrastructure IPO - FAQs

Ans. Afcons Infrastructure Limited IPO is a Mainboard IPO. The issue is priced at ₹440-463 per equity share. The minimum order quantity is 32 Shares. The IPO opens on Oct 25, 2024, and closes on Oct 29, 2024. Link Intime India Private Ltd is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.

Ans. The Afcons Infrastructure Limited IPO opens on Oct 25, 2024 and closes on Oct 29, 2024.

Ans. The size of Afcons Infrastructure Limited IPO is Total ₹5,430 Cr : #Fresh Issue : 26,997,840 shares(aggregating up to ₹1,250 Cr) + #OFS : 90,280,778 shares of ₹10(aggregating up to ₹4,180 Cr).

Ans. The IPO price band is set between ₹440-463 per equity share.

Ans. To apply for Afcons Infrastructure Limited IPO IPO, follow the steps given below:

- Open the IPO Ji App or Website
- Find Afcons Infrastructure Limited IPO in the List of IPOs
- Press "Apply" Button
- Select Your Demat Account
- Select Your Shares Quantity and Submit
- Track Your IPO Status

Ans. The share allotment date of Afcons Infrastructure Limited IPO is Oct 30, 2024.

Ans. The Afcons Infrastructure Limited IPO will be listed on Nov 4, 2024.

Ans. Follow the steps to check the allotment status for Afcons Infrastructure Limited IPO here.