Afcons Infrastructure, a major company from the Shapoorji Pallonji group, is set to begin trading on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) today, November 4, 2024. This IPO had a mixed reception, with retail investor demand being moderate.
Expected Listing Details
The IPO listing price is estimated around ₹478 per share, which is just slightly above its issue price of ₹463. In the grey market, Afcons Infrastructure shares are showing a premium of ₹15 per share, which hints at a flat or modest start on the market. Market experts anticipate that shares may open close to their issue price, with limited gains due to weaker investor sentiment.
Analysts’ Insights
Analysts suggest Afcons is well-placed in the infrastructure sector, backed by government projects and strong parentage. Sagar Shetty of StoxBox suggests holding Afcons shares for the medium to long term, given the company’s position and growth potential.
Prashanth Tapse from Mehta Equities Ltd also sees a flat start but views this as an opportunity for long-term investors, citing growth potential tied to government infrastructure investments.
IPO Details Recap
- Subscription Period: October 25–29, 2024
- Price Band: ₹440–₹463 per share
- Raised Funds: ₹5,430 crore at the upper end
- Subscription Rates: Retail (94%), Qualified Institutional Buyers (3.79x), Non-Institutional Investors (5.05x)
Afcons’ IPO is managed by ICICI Securities, Dam Capital, Jefferies India, and others, with Link Intime India as the registrar. While the market mood is cautious, analysts advise long-term investors to consider holding on as infrastructure sector growth is expected to strengthen Afcons’ position in the future.
Disclaimer: The views and investment tips expressed by investment experts on Sharepriceindia.com are their own and not those of the website or its management. Sharepriceindia.com advises users to check with certified experts before taking any investment decisions.
