Afcons Infrastructure share price made a tepid debut on stock exchanges on Monday. Afcons Infrastructure shares were listed at ₹426.00 apiece, a discount of 8% to the issue price of ₹463.00 per share on the NSE.
On BSE, Afcons Infrastructure shares began trading with 7.12% discount at ₹430.05 apiece.
Afcons Infrastructure is the flagship infrastructure company of Shapoorji Pallonji group, and its initial public offering (IPO) saw a lukewarm demand from retail investors.
Afcons Infrastructure IPO listing date was set for today, November 4, 2024. The equity shares of Afcons Infrastructure Ltd are listed on both the stock exchanges, BSE and NSE.
Afcons Infrastructure IPO listing was in line with the Street estimates. Stock market analysts and the trends in Afcons Infrastructure IPO grey market premium (GMP) ahead of share listing had indicated a flat debut of shares today.
Afcons Infrastructure IPO Details
The subscription period of Afcons Infrastructure IPO commenced on Friday, October 25, and concluded on Tuesday, October 29. The IPO allotment was finalised on October 30 and the Afcons Infrastructure IPO listing date is today, November 4. Afcons Infrastructure shares are listed on both the stock exchanges, BSE and NSE.
Afcons Infrastructure IPO price band was fixed at ₹440 to ₹463 per equity share. At the upper-end of the price band, the company raised ₹5,430 crore from the book-built issue which was a combination of fresh issue of 2.7 crore equity shares worth ₹1,250 crore and offer for sale of 9.03 crore shares amounting to ₹4,180 crore.
Afcons Infrastructure IPO was subscribed 2.63 times in total. The public issue received 94% subscription in the retail category, and 3.79 times in the Qualified Institutional Buyers (QIBs) category. The Non Institutional Investors (NII) category was booked 5.05 times, subscription data available on NSE showed.
ICICI Securities, Dam Capital Advisors Ltd, Jefferies India, Nomura Financial Advisory And Securities (India), Nuvama Wealth Management and SBI Capital Markets are the book running lead managers of the Afcons Infrastructure IPO, while Link Intime India is the IPO registrar.
