IPO News: IPO of Shapoorji Pallonji Group company Afcons Infrastructure Ltd is coming. The company has announced the price band for the IPO on Monday. The price band of Afcons Infrastructure IPO has been fixed at Rs 440 to Rs 463. Let us tell you, the IPO will open for retail investors on October 25. The company’s IPO will remain open till 29 October 2024. At the same time, the IPO for anchor investors will open on October 24. The size of Afcons Infrastructure Ltd IPO is Rs 5430 crore.
Fresh shares worth Rs 4180 crore
Afcons Infrastructure will issue fresh shares worth Rs 1250 crore through IPO. At the same time, the company will issue share offer for sale worth Rs 4180 crore. Company promoter Goswami is going to sell the shares on behalf of Infratech. Let us tell you, Goswami Infratech, Shapoorji Pallonji & Company, Floreat Investments, Hermes Commerce and Renaissance Commerce are the promoters of this company. Together their stake in the company is 99 percent.
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The lot size of Afcons Infrastructure IPO is 32 shares. Because of which retail investors will have to place a bet of at least Rs 14,816. Let us tell you that the company is giving a discount of Rs 44 per share to the employees.
How is the company performing in the gray market?
According to Investors Gain report, Afcons Infrastructure IPO is trading at a premium of Rs 145 in the gray market today. There has been a decline in the GMP of the company today as compared to yesterday. Let us tell you, on Saturday, GMP is trading at the level of Rs 225 in the gray market.
Where will the company use the IPO money?
The company will spend Rs 80 crore to purchase construction related goods. At the same time, Rs 320 crore will be used for working capital.
(This is not investment advice. The stock market is subject to risks. Consult experts before making any investment.)
