On October 25, the first day of bidding, Afcons Infrastructure's Rs 5,430-crore IPO got off to a slow start as only 8 per cent of the issue had been subscribed for by the afternoon. According to consolidated bid data, 71.47 lakh shares were bid on during the public offering, compared to the 8.66 crore shares that were offered.
Retail investors were in the lead, reserving 12 per cent of the portion set aside for them, according to consolidated bid data on NSE. Only 7 per cent of the non-institutional investor portion was booked, compared to 33 per cent of the employee quota. Qualified institutional buyers, or QIBs, bid for 2,880 shares out of the 2.45 crore shares they had reserved for them.
All details about Afcons Infrastructure IPO @ipo_mantra pic.twitter.com/q3kB6qgQ1Y
— Team IPO Mantra (@Team_IPOMantra) October 21, 2024
Price band and Issue size
A price range of Rs 440 to Rs 463 has been established for the public offering. Each equity share will have a face value of Rs 10.
Through a combination of an offer for sale (OFS) of up to Rs 4,180 crore and a fresh issue of up to Rs 1,250 crore, the company hopes to raise a total of Rs 5,430 crore.
Lot size and employee discount
In lots of 32 shares, investors can place bids. A discount of Rs 44 per share will be available to qualified employees.
Company financials
The company reported operating revenue of Rs 13,267.50 crore in fiscal year 2024, up from Rs 12,637.38 crore in fiscal year 2023.
Additionally, profit after tax (PAT) increased from Rs 410.86 crore in FY23 to Rs 449.74 crore in FY24. The company reported Rs 3,154.36 crore in revenue and Rs 91.59 crore in PAT for the first quarter of FY25 (April to June 2024).