Afcons Infra IPO Allotment Status: All Retail Bidders Expected to Receive Shares—Check the Details Here.
The allotment for the Afcons Infra IPO is expected to occur on October 30 (Wednesday) following the conclusion of the ₹5,430 crore initial share sale by the Shapoorji Pallonji Group’s flagship infrastructure engineering and construction firm, which was oversubscribed by 2.63 times.
All retail bidders are anticipated to receive their share allotments today, as the Retail Individual Investors (RII) portion was subscribed at only 94%. However, the final retail participation might drop below this percentage due to potential application rejections, incomplete submissions, and other processing issues.
In a previous instance, the retail portion of the Hyundai Motor India IPO was subscribed at 50%, yet all applicants received allotments.
The initial share sale for Afcons Infrastructure raised ₹1,621 crore from anchor investors, with the price band set between ₹440 and ₹463 per share.
- COMPANY WEBSITE – https://www.afcons.com/en
Afcons Infra IPO GMP today price
0Afcons Infrastructure shares are commanding a flat grey market premium in the unofficial market as of October 30. According to platforms that track the grey market premium activities, the shares were earlier trading with 8 percent premium in the unlisted market, however, it has eased to a flat price ahead of listing on Monday.
Afcons Infra IPO status check: Steps to check share allotment status on Link Intime
Step 1: Open the link to the official registrar of the issue on this URL: https://linkintime.co.in/initial_offer/
Step 2: Select the company from the dropdown menu.
Step 3: You check your allotment status by filling in details like PAN, application number or DP client ID.
Step 4: Press the Submit button
Step 5: Your allotment status will be shown in the window.
Afcons Infra IPO allotment status check on BSE Direct Link
Step 1: Open the website of Bombay Stock Exchange (BSE).
Step 2: Click on ‘Investors’ option.
Step 3: On the ‘Investor Services’ dropdown, click on ‘Status of Issue Application’.
Step 4: Click on ‘Application Status Check’.
Step 5: Select Equity in the issue type.
Step 6: Fill in the required details including the ‘Issue Name’.
Step 7: Enter your PAN number and click on Search to view the status
Shares of the company will be listed on 4th November 2024, Monday.
The IPO is a combination of a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech Pvt Ltd.
The Maharashtra-based company will utilise Rs 80 crore from the fresh issue proceeds to buy construction equipment, Rs 320 crore for long-term working capital, Rs 600 crore to repay debt, and the rest for general corporate purposes.
Founded in 1865, Shapoorji Pallonji Group (SP Group) is a diversified institution and has a leading presence in engineering & construction, infrastructure, real estate, water, energy and financial services sectors across the globe.
Strengths & Financials of Afcons Infrastructure
| Category | Details |
|---|
| Strengths | – 65 active projects in 12 countries as of June 30, 2024. – Total order book of ₹31,747 crore with over 79 completed projects in 17 countries. – Expanded global footprint, especially in Asia, Africa, and the Middle East. – Diverse equipment fleet including 11 marine barges, 153 cranes, 16 tunnel boring machines, 8 large-capacity jackups, and 21 piling rigs. – Commitment to ESG principles; reduced total energy consumption from 2.70 million gigajoules to 2.42 million gigajoules in FY24. – Recycled over 27% of wastewater at project sites in FY24. – Notable projects include Atal Tunnel, Delhi-Meerut RRTS, Delhi Metro Phase IV, and Dahej liquid cargo berth. – Consistent revenue growth: – Revenue from operations: ₹11,018.97 crore (FY22) → ₹12,637.38 crore (FY23) → ₹13,267.49 crore (FY24). – PAT: ₹357.60 crore (FY22) → ₹410.86 crore (FY23) → ₹449.74 crore (FY24). |
| Risks | – Heavy reliance on government projects; 65.98% of the order book from government/government-led clients in FY24. – Vulnerability to changes in government budget allocations and policies affecting infrastructure projects. – Legal and arbitration proceedings involving some contracts may adversely affect operations. – Top 10 customers account for 65.52% of the order book in FY24; loss of these clients could harm financial standing. – Total trade receivables of ₹3,974.61 crore as of June 30, 2024; collection issues could impact finances. – Ongoing legal proceedings involving the company, its subsidiaries, promoters, and directors. – Outstanding financial indebtedness of ₹17,732.36 crore; failure to service or repay loans could harm operations. |
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