Afcons Infrastructure, backed by the Shapoorji Pallonji Group, raised Rs 5,430 crore in its IPO, set to debut on NSE and BSE on November 4, 2024. The offering, priced between Rs 440-463, includes a fresh issue and an offer for sale.

Afcons Infrastructure’s IPO, which opened for subscription from October 25 to October 29, raised Rs 5,430 crore through a book-built issue

Another Rs 320 crore is set aside to fund its long-term working capital requirements, while Rs 600 crore will be used to repay or prepay part of its outstanding debt. The remainder will be directed toward general corporate expenses,

Afcons Infrastructure share price outlook. Concerning the reasons for the weak listing of Afcons Infrastructure shares, Prashanth Tapse, Senior VPP — Research at Mehta Equities,

Shares of Afcons Infrastructure Ltd made a muted Dalal Street debut on Monday as the Shapoorji Pallonji Group firm was listed at Rs 426 on NSE, a discount of 7.99 per cent over its issue price of Rs 463.

Afcons Infrastructure shares rose 8.4% to ₹461.7 after a weak debut, reflecting an 8% discount from its IPO price, amid cautious market sentiment and strong long-term growth potential.

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,

Afcons Infrastructure IPO listing date is today, November 4, 2024. Stock market analysts and the trends in Afcons Infrastructure IPO GMP ahead of share listing indicate a flat debut of shares today.

Afcons Infrastructure's shares opened at an 8% discount on NSE and a 7% discount on BSE compared to the issue price. The company plans to use the IPO proceeds to buy equipment, fund working capital, repay debt,

Afcons Infrastructure IPO lists at ₹463, oversubscribed 2.63 times, with proceeds for capital expenditure, working capital, and debt repayment.