Afcons Infrastructure IPO Details: The Afcons Infrastructure IPO is set to open in October 2024 and will close later that same month. This is a Book Built Issue, with the company aiming to raise approximately ₹7,000 crores. This includes a fresh issue of ₹1,250 crores and an offer for sale of up to 5,750 equity shares, each with a face value of ₹10.
The price band for the Afcons Infrastructure IPO is expected to be ₹[.] to ₹[.] per share. The allocation will be divided into 35% for retail investors, 50% for qualified institutional buyers (QIBs), and 15% for high-net-worth individuals (HNIs). The shares are anticipated to list on the NSE in October 2024, with the allotment date also set for October 2024.
In terms of financial performance, the company reported revenues of ₹12,844.1 crores in 2023, up from ₹11,269.55 crores in 2022. Profit for the same period rose to ₹410.86 crores, compared to ₹357.61 crores in 2022. Given these financial results, investors are encouraged to consider applying for the IPO with a long-term perspective.
Afcons Infrastructure IPO Objectives:
The Company proposes to utilise the Net Proceeds towards funding the following objects
- Capital expenditure towards purchase of construction equipment
- Funding long term working capital requirements
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by the Company
- General corporate purpose
Afcons Infrastructure IPO Review (Apply or Not)
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Afcons Infrastructure IPO Date & Price Band Details:
| IPO Open Date: | October, 2024 |
| IPO Close Date: | October, 2024 |
| Face Value: | ₹10 Per Equity Share |
| IPO Price Band: | ₹[.] to ₹[.] Per Share |
| Issue Size: | Approx ₹7,000 Crores |
| Fresh Issue: | Approx ₹1,250 Crores |
| Offer for Sale: | Approx 5,750 Equity Shares |
| Issue Type: | Book Built Issue |
| IPO Listing: | BSE & NSE |
| Retail Quota: | Not more than 35% |
| QIB Quota: | Not more than 50% |
| NII Quota: | Not more than 15% |
| DRHP Draft Prospectus: | Click Here |
| RHP Draft Prospectus: | Click Here |
| Anchor Investors List: | Click Here |
Afcons Infrastructure IPO Lot Size:
The minimum market lot for the Afcons Infrastructure IPO is [.] shares, requiring an application amount of ₹[.]. Retail investors can apply for a maximum of 13 lots, which totals [.] shares or an investment of ₹[.].
| Application | Lot Size | Shares | Amount |
| Retail Minimum | 1 | – | ₹- |
| Retail Maximum | 13 | – | ₹- |
| S-HNI Minimum | 14 | – | ₹- |
| B-HNI Minimum | 68 | – | ₹- |
Afcons Infrastructure IPO Timeline:
The Afcons Infrastructure IPO is scheduled to open in October 2024 and will close later that same month. The allotment for the IPO is set to be finalized in October 2024, with the listing expected to occur in the same month.
| IPO Open Date: | October, 2024 |
| IPO Close Date: | October, 2024 |
| Basis of Allotment: | October, 2024 |
| Refunds: | October, 2024 |
| Credit to Demat Account: | October, 2024 |
| IPO Listing Date: | October, 2024 |
Afcons Infrastructure IPO GMP Today:
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Promoters of Afcons Infrastructure IPO
The promoters of Afcons Infrastructure are Surender Pal Singh Saluja and Chiranjeev Singh Saluja.
About Afcons Infrastructure IPO
Afcons Infrastructure Limited is headquartered at Afcons House, 16 Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai, Maharashtra, 400053, India. As the flagship infrastructure engineering and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate, Afcons boasts a legacy of over six decades. The company has a proven track record of executing a wide range of complex, challenging, and unique EPC (Engineering, Procurement, and Construction) projects both in India and internationally.
According to the Fitch Report, Afcons ranks among India’s largest international infrastructure firms, as indicated by the 2023 Engineering News-Record (ENR) Top International Contractors rankings, which are based on international revenue for the financial year 2023. Over the years, the company has expanded its global presence, particularly across Asia, Africa, and the Middle East, and has undertaken numerous intricate and pioneering infrastructure projects worldwide.
In 2023, the Indian government awarded Afcons the status of Five Star Export House in recognition of its achievements under the Foreign Trade Policy. A key strength of the company lies in its responsiveness to customer feedback and its ability to provide immediate solutions to address client challenges.
Afcons Infrastructure IPO Company Financial Report
The company reported revenue of ₹12,844.1 crores in 2023 against ₹11,269.55 crore in 2022. The company reported profit of ₹410.86 crores in 2023 against profit of ₹357.61 crores in 2022.
Amount ₹ in Crores
| Period Ended | Revenue | Expense | Profit After Tax | Assets |
| 2021 | ₹9,521.12 | ₹9,230.61 | ₹169.91 | ₹12,489.94 |
| 2022 | ₹11,269.55 | ₹10,863 | ₹357.61 | ₹12,973.77 |
| 2023 | ₹12,844.09 | ₹12,245.02 | ₹410.80 | ₹14,301.25 |
| Sept 2023 | ₹6,655.35 | ₹6,367.92 | ₹195.13 | ₹16,178.70 |
Afcons Infrastructure IPO Valuation – FY2023
Check Afcons Infrastructure IPO valuations detail like Earning Per Share (EPS), Price/Earning P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
| KPI | Values |
| ROE: | 13.96% |
| ROCE: | 20.04% |
| EBITDA Margin: | 10.70% |
| PAT Margin: | 3.20% |
| Debt to equity ratio: | – |
| Earning Per Share (EPS): | ₹12.06 (Basic) |
| Price/Earning P/E Ratio: | N/A |
| Return on Net Worth (RoNW): | 13.02% |
| Net Asset Value (NAV): | ₹92.59 |
Peer Group Comparison
| Company | EPS | PE Ratio | RoNW % | NAV | Income |
| Larsen & Toubro Limited | 74.51 | 48.49 | 11.80% | 631.34 | 1,83,340.70 Cr. |
| KEC International Limited | 6.85 | 97.21 | 4.80% | 142.78 | 17,281.71 Cr. |
| Kalpataru Project International Limited | 29.06 | 36.72 | 9.58% | 283.24 | 16,361.44 Cr. |
| Dilip Buildcon Limited | (0.10) | (4,162.00) | 0.02% | 270.45 | 10,643.65 Cr. |
Afcons Infrastructure IPO Registrar
Link Intime India Private Limited
Phone: +91 810 811 4949
E-mail: afconsinfrastructure.ipo@linkintime.co.in
Website: www.linkintime.co.in
IPO Lead Managers aka Merchant Bankers
- ICICI Securities Limited
- DAM Capital Advisors Limited
- Jefferies India Private Limited
- Nomura Financial Advisory and Securities (India) Private Limited
- Nuvama Wealth Management Limited
- SBI Capital Markets Limited
Company Address
Afcons Infrastructure Limited
Afcons House, 16 Shah Industrial Estate,
Veera Desai Road, Andheri (West),
Mumbai-400053,
Maharashtra, India
Phone: 022-67191214,
Email: gaurang@afcons.com
Website: www.afcons.com
Afcons Infrastructure IPO FAQs
1. What is the opening and closing date of the Afcons Infrastructure IPO?
The Afcons Infrastructure IPO is set to open in October 2024 and will close later that same month.
2. How much capital is Afcons Infrastructure aiming to raise through the IPO?
The company aims to raise approximately ₹7,000 crores, which includes a fresh issue of ₹1,250 crores and an offer for sale of up to 5,750 equity shares.
3. What is the price band for the Afcons Infrastructure IPO?
The price band for the IPO is expected to be ₹[.] to ₹[.] per share.
4. What is the minimum market lot for this IPO?
The minimum market lot for the Afcons Infrastructure IPO is [.] shares, with an application amount of ₹[.].
5. How many lots can retail investors apply for?
Retail investors can apply for a maximum of 13 lots, which equates to [.] shares or an investment of ₹[.].
6. When will the allotment of shares for the IPO be finalized?
The allotment of shares for the Afcons Infrastructure IPO is scheduled to be finalized in October 2024.
7. When will the shares be listed on the stock exchange?
The shares of Afcons Infrastructure are expected to be listed on the NSE in October 2024.
8. Who are the promoters of Afcons Infrastructure?
The promoters of Afcons Infrastructure are Surender Pal Singh Saluja and Chiranjeev Singh Saluja.
9. What is Afcons Infrastructure’s business focus?
Afcons Infrastructure is primarily focused on infrastructure engineering and construction. The company is recognized for its expertise in executing complex EPC projects both domestically and internationally.
10. How has Afcons Infrastructure performed financially?
In 2023, the company reported revenues of ₹12,844.1 crores, an increase from ₹11,269.55 crores in 2022, along with a profit of ₹410.86 crores, up from ₹357.61 crores in the previous year.
11. What recognition has Afcons Infrastructure received?
In 2023, the Indian government awarded Afcons the status of Five Star Export House under the Foreign Trade Policy, highlighting its achievements in the export sector.
12. Why should investors consider applying for the Afcons Infrastructure IPO?
Given the company’s robust financial performance, extensive experience in infrastructure projects, and positive industry reputation, investors may consider applying for the IPO with a long-term investment perspective.
