Retail investors segment subscribed 94%
MUMBAI, Oct 29 (The CONNECT) The Initial Public Offering of Afcons Infrastructure Limited was subscribed 2.63 times on the final day of bidding.
The issue received bids of 22,78,13,728 shares against the offered 8,66,19,950 equity shares, at a price band of ₹440-463, according to the data available on the stock exchanges.
Non-Institutional Investors Portion and Qualified Institutional Buyer Portion were subscribed 5.05 times and 3.79 times respectively, whereas Employee Portion was subscribed 1.67 times. Retail Portion was subscribed 0.94 times.
ICICI Securities Limited, DAM Capital Advisors Limited, Jefferies India Private Limited, Nomura Financial Advisory and Securities (India) Private Limited, Nuvama Wealth Management Limited, and SBI Capital Markets Limited are book running lead managers, and Link Intime India Private Limited is the registrar of the issue.
Company Information
Afcons Infrastructure Limited is an Indian conglomerate with a rich history spanning over six decades. The company has a proven track record of successfully delivering a wide range of complex and challenging engineering, procurement, and construction (EPC) projects both domestically and internationally. According to the Fitch Report, Afcons is recognized as one of India’s leading international infrastructure firms, as per the 2023 rankings by Engineering News-Record (ENR) based on international revenue for the financial year 2023.
Afcons operates across five major infrastructure business verticals:
- Marine and Industrial, encompassing projects such as ports, harbours, dry docks, LNG tanks, and material handling systems.
- Surface transport, including highways, interchanges, mining infrastructure, and railways.
- Urban infrastructure, covering metro works, bridges, flyovers, and elevated corridors.
- Hydro and Underground, comprising dams, tunnels, and water-related projects.
- Oil and Gas, involving offshore and onshore projects in the oil and gas sector.
The company has a strong international presence across various infrastructure sectors, as highlighted in the 2023 ENR rankings. Afcons ranks among the top international contractors globally in marine and port facilities, bridges, transportation, and transmission line segments based on international revenue for the financial year 2023, according to the Fitch Report.
Afcons has a history of completing projects ahead of schedule, including notable ones like the Jammu Udhampur Highway Project, Nagpur Metro Reach 3, and Agra Lucknow Expressway. As of June 30, 2024, Afcons is actively involved in 79 active projects across 17 countries.
As of June 30, 2024, Afcons Infra’s order book stood at ₹31,747.43 crore.
