Afcons Infrastructure Stock Debut Sparks Investor Excitement

IPO Price Band: The Afcons Infrastructure IPO was priced between ₹440 and ₹463 per share, with a minimum bid of 32 shares per lot

Grey Market Premium: Prior to its market debut, the stock commanded a grey market premium of approximately ₹60 per share, indicating strong interest from investors and potentially a higher listing price

IPO Size: The IPO raised significant funds, with around ₹1,621.5 crore already secured from anchor investors, highlighting strong institutional support

Listing Date: Afcons Infrastructure shares are set to be listed on the BSE and NSE on November 4, 2024, allowing public trading to commence

Investment Purpose: Proceeds from the IPO will go toward purchasing construction equipment, reducing debt, and funding working capital, supporting the company’s operational growth

Investor Appeal: Afcons’s reputation in infrastructure and construction, along with its experience in complex engineering projects, made this IPO appealing to both retail and institutional investors

Market Comparison: The post-issue P/E ratio is around 36x, comparable to other industry players, aligning it with peers like Larsen & Toubro and KEC International​

Analysts’ Ratings: Multiple brokerage firms, such as Marwadi Financial Services and KR Choksey, rated the IPO a "Subscribe," attributing this to Afcons's diversified order book and strategic positioning in infrastructure