The IPO of Afcons Infrastructure, a subsidiary of the Shapoorji Pallonji Group, which operates in various sectors, opens today. Originally scheduled to open on Friday, October 25, it will close on Tuesday, October 29. Afcons Infrastructure, specializing in engineering and construction, has set a price band of Rs 440 to Rs 463 per share for its IPO. Employees of the company are eligible for a discount of Rs 44 on each share.
The company will be listed on BSE and NSE
Afcons Infrastructure aims to raise a total of Rs 5,430 crore through this IPO. Of this, 2,69,97,840 new shares worth Rs 1,250 crore will be issued. Additionally, the company’s promoters will offer 9,02,80,778 shares worth Rs 4,180 crore through the Offer for Sale (OFS). This is a mainboard IPO, which will be listed on both the major stock exchanges, BSE and NSE.
Retail Investors Will Receive 32 Shares in One Lot
Afcons Infrastructure has reserved 50% of the IPO for Qualified Institutional Buyers (QIB), 35% for retail investors, and 15% for Non-Institutional Investors (NII). Retail investors wishing to subscribe to the IPO will need to invest at least Rs 14,816, which will give them 32 shares in one lot. They can bid for up to 13 lots, totalling Rs 1,92,608, which would provide them with a total of 416 shares.
Afcons Infrastructure Will Be Listed on the Stock Market on November 4
The last day to subscribe to the IPO is October 29. The shares will be allotted the very next day, Wednesday, October 30. Investors will have their shares credited to their Demat accounts on Thursday, October 31. Afcons Infrastructure is expected to be listed on the stock market on Monday, November 4. Link Intime India Private Ltd has been appointed as the registrar for this IPO.
To apply for the Afcons Infrastructure IPO:
- Ensure Demat and Trading Account: Open with a stockbroker or financial institution.
- Application Method:
- Online: Use your broker’s platform to apply.
- ASBA (Bank’s Net Banking): Apply through your bank’s net banking portal.
- Choose Lot Size and Price: Minimum 32 shares per lot. Price range: Rs 440–463.
- Make Payment: Via ASBA or UPI (for retail).
- Wait for Allotment: Check status on BSE/NSE or your broker’s platform.
- Shares Credited: If allotted, shares will be credited to your Demat account by October 31.
- Listing Date: December 4, 2024.