Afcons Infrastructure IPO Day 1 Live Updates: The flagship infrastructure engineering and construction firm of the Shapoorji Pallonji Group, Afcons Infrastructure Ltd, makes its debut on the D-Street today. The company boasts a solid history of delivering numerous intricate, challenging, and unique engineering, procurement, and construction (EPC) projects, both within India and internationally. Afcons Infrastructure IPO price band has been set between ₹440 and ₹463 per equity share with a face value of ₹10. The Afcons Infrastructure IPO subscription period is set to begin on Friday, October 25, and will conclude on Tuesday, October 29.
As of June 30, 2024, the firm is actively involved in 65 projects across 12 countries, with a cumulative order book valued at ₹317.47 billion.
Over the years, the company has broadened its international footprint, especially in Asia, Africa, and the Middle East. Afcons Infrastructure has undertaken numerous complex, demanding, innovative, and groundbreaking infrastructure projects both in India and globally, as highlighted in the Fitch Report.
Stay tuned for latest GMP, subscription status, reviews, more .
Afcons Infrastructure IPO Live Updates: Here’s all you need to know about anchor investor
Ahead of its IPO, Afcons Infrastructure Ltd announced on Thursday that it has secured ₹1,621 crore from anchor investors, just a day before the public subscription for its initial share sale begins.
Participation in the anchor book came from both foreign and domestic institutions, including HDFC Mutual Fund (MF), ICICI Prudential MF, BlackRock, Fidelity Investments, Goldman Sachs, HSBC Group, Nomura, Nippon India MF, Enam Holdings, Mirae MF, Quant MF, Invesco MF, Eastbridge, Amundi, Invesco HK, and SBI General Insurance.
The company has allocated more than 3.5 crore equity shares to 80 different funds at a price of ₹463 per share, which marks the upper limit of the price range.
Afcons Infrastructure IPO Live Updates: Here’s what GMP signal’s ahead of opening
Afcons Infrastructure IPO GMP today is +60. This indicates Afcons Infrastructure share price was trading at a premium of ₹60 in the grey market, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Afcons Infrastructure share price is indicated at ₹523 apiece, which is 12.96% higher than the IPO price of ₹463.
Based on the last 27 sessions’ grey market actions, the current GMP ( ₹60) is indicating a downward trend. According to investorgain.com analysts, the lowest GMP is ₹0, and the highest is ₹225.
‘Grey market premium’ indicates investors’ readiness to pay more than the issue price.
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