Shares of Afcons Infrastructure will be listed on the bourses today. The company has fixed the IPO price at ₹463 at the upper end of the ₹440-463 price band. The initial public offering (IPO) of Afcons Infrastructure, the flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji group, sailed through on the last day, thanks to institutional investors’ bidding.
The IPO was subscribed 2.63 times, even as the portion reserved for retail investors did not get 100 per subscription (subscribed 0.94 time or 94 per cent). However, QIB portion was subscribed 3.79 times, NIIs 5.05 per cent and employees by 1.67 times.
The ₹5,430crore IPO consisted of a mix of fresh issues of up to ₹1,250 crore and an offer of sale of up to ₹4,180 crore by the promoter.
KS Badri Narayanan of businessline writes
