Afcons Infrastructure IPO is a book-built issue of Rs 5,430.00 crores. The issue is a combination of a fresh issue of 2.7 crore shares aggregating to Rs 1,250.00 crores and an offer for sale of 9.03 crore shares aggregating to Rs 4,180.00 crores.
The IPO opens for subscription on October 25, 2024, and closes on October 29, 2024. The price band for the IPO is set at ₹440 to ₹463 per share and the minimum lot size for an application is 32 Shares.
Company Summary
Incorporated in 1959, Afcons Infrastructure Limited is an infrastructure engineering and construction company of the Shapoorji Pallonji group which has a global presence in Asia, Africa, and the Middle East, 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. Further, the company has 67 active projects across 13 countries, totaling an order book of Rs 348.88 billion.
The company has five major infrastructure business verticals
- Marine and industrial projects
- Surface transport projects
- Urban infrastructure projects
- Hydro and underground projects
- Oil and gas projects
Company Strengths
- Strong Track Record of Timely Execution of Large-Scale, Complex and High-Value Projects.
- Diversified Order Book across Geographies, Clients, and Business Verticals, Longstanding Relationships with Clients Globally, and Strong Financial Performance.
- Collaboration among internal teams, JV counterparties, and a strategic equipment base, leads to strong execution capabilities.
Company Financials
Period Ended | 30 Jun 2024 | 31 Mar 2024 | 31 Mar 2023 | 31 Mar 2022 |
Assets | 17,184.58 | 16,233.64 | 14,301.25 | 12,973.77 |
Revenue | 3,213.47 | 13,646.88 | 12,844.09 | 11,269.55 |
Profit After Tax | 91.59 | 449.76 | 410.86 | 357.61 |
Net Worth | 3,662.25 | 3,575.05 | 3,155.06 | 2,691.03 |
Reserves and Surplus | 3,342.52 | 3,255.22 | 2,653.75 | 2,190.11 |
Total Borrowing | 3,365.1 | 2,455 | 1,562.82 | 1,555.2 |
Amount in ₹ Crore |
Objectives of the IPO
The Company proposes to utilize the Net Proceeds towards funding the following objects
- Capital expenditure toward 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 purpose
Promoters of the company
Goswami Infratech Private Limited, Shapoorji Pallonji, and Company Private Limited, Floreat Investments Private Limited, Shapoorji Pallonji Mistry*, Firoz Cyrus Mistry*, and Zahan Cyrus Mistry*are the Promoters of the Company.
The Promoters, collectively, hold 329,250,448 Equity Shares of the face value of ₹ 10 each in the Company, representing 96.63% of the issued, subscribed, and paid-up Equity Share capital of the Company.
IPO details
IPO Date | October 25, 2024 to October 29, 2024 |
Listing Date | Monday, November 4, 2024 |
Face Value | ₹10 per share |
Price Band | ₹440 to ₹463 per share |
Lot Size | 32 Shares |
Total Issue Size | 117,278,618 shares (aggregating up to ₹5,430.00 Cr) |
Fresh Issue | 26,997,840 shares (aggregating up to ₹1,250.00 Cr) |
Offer for Sale | 90,280,778 shares of ₹10 (aggregating up to ₹4,180.00 Cr) |
Issue Type | Book Built Issue IPO |
Listing At | BSE, NSE |
Lot Allocation details
Application | Lots | Shares | Amount |
Retail (Min) | 1 | 32 | ₹14,816 |
Retail (Max) | 13 | 416 | ₹192,608 |
S-HNI (Min) | 14 | 448 | ₹207,424 |
S-HNI (Max) | 67 | 2,144 | ₹992,672 |
B-HNI (Min) | 68 | 2,176 | ₹1,007,488 |
Allotment Schedule
Basis of Allotment | Wednesday, October 30, 2024 |
Initiation of Refunds | Thursday, October 31, 2024 |
The credit of Shares to Demat | Thursday, October 31, 2024 |
Listing Date | Monday, November 4, 2024 |
Cut-off time for UPI mandate confirmation | 5 PM on October 29, 2024 |
IPO Reservation
Investor Category | Shares Offered |
QIB Shares Offered | Not more than 50.00% of the Net Issue |
Retail Shares Offered | Not less than 35.00% of the Net Issue |
NII (HNI) Shares Offered | Not less than 15.00% of the Net Issue |
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