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IPO of Atal Tunnel making company will open on October 25, price at a premium of ₹ 225 in gray market

by Aaryan Srivastav
October 20, 2024
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The IPO of Afcons Infrastructure, a company of Shapoorji Pallonji Group, is coming. The company’s IPO will open on October 25. Investors will have the chance to place bets till October 29. This company has not yet announced the price band of the IPO. But despite this, the position of the gray market company appears to be quite strong. According to the report of Investors Gain, the IPO is available in the gray market at a premium of Rs 225. Let us tell you, Afcons Infrastructure and Austrian company Straubeg had built Atal Tunnel in joint venture.

What is the size?

The size of the IPO of Shapoorji Pallonji Group is Rs 5430 crore. The company will issue fresh shares worth Rs 1250 crore through IPO and shares worth Rs 4180 crore through offer for sale.

The promoters of this company are Goswami Infratech Private Limited, Shapoorji Pallonji & Company Private Limited and Floreat Investments Private Limited. At present the total stake of the promoters in the company is 99.48 percent.

Also read: IPO of 8 companies is opening this week, be ready with money, check details

The company has worked in 15 countries

Afcons Infrastructure was established in 1959. The company has completed 76 projects in 15 countries by September 30, 2023. The total contract value of the company has reached $522.20 billion. The company has its presence in Asia, Africa and the Middle East.

How strong is Afcons Infrastructure’s balance sheet?

Talking about the financial position of the company, during the financial year 2024, the company had made a total profit of Rs 449.76 crore (after tax payment). The revenue of this Afcons Infrastructure is Rs 3213.47 crore. At the same time, the company’s profit in the June quarter of the current financial year has been Rs 91.59 crore. The total revenue of Afcons Infrastructure in the first quarter is Rs 3213.47 crore.

(This is not investment advice. The stock market is subject to risks. Consult experts before making any investment.)

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