Afcons Infrastructure Ltd., a prominent engineering and construction arm of the Shapoorji Pallonji Group, boasts a 60-year legacy of delivering complex and diverse infrastructure projects both within India and globally. Renowned for its effective project management, Afcons has received the prestigious MIKE award, reflecting its excellence in knowledge management and innovation.
Open Date: 25-Oct-2024
Close Date: 27-Oct-2024
Allotment Date: 30-Oct-2024
Refund start: 31-Oct-2024
Share in Demat: 31-Oct-2024
Listing Date :4th Nov 2024
IPO Details
Offer Size: The IPO consists of up to equity shares with a face value of 10 each, aggregating up to 54,300 million.
This includes a fresh issue of up to equity shares, aggregating up to `12,500 million.
The remaining portion is an offer for sale of up to equity shares, aggregating up to `41,800 million by Goswami Infratech Private Limited.
Price Band: The price band for the IPO is set between 440 and 463 per equity share.
Minimum Bid Lot: Bids can be made for a minimum of 32 equity shares and in multiples of 32 equity shares after that.
Employee Discount: Eligible employees bidding in the IPO will receive a discount of `44 per equity share.
Listing: The equity shares will be listed on the main board platform of both the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).
Offer Structure: The offer is structured through the Book Building Process.
QIB Portion: Not more than 50% of the net offer is allocated to Qualified Institutional Buyers (QIBs). This portion may include an allocation of up to 60% to Anchor Investors.
Non-Institutional Portion: Not less than 15% of the net offer is allocated to Non-Institutional Bidders.
Retail Portion: At least 35% of the net offer is allocated to Retail Individual Bidders.
Employee Reservation Portion: Up to equity shares, aggregating up to `250 Million will be reserved for eligible employees.
Application Process: All potential bidders, except Anchor Investors, are required to use the Application Supported by Blocked Amount (ASBA) process.
Retail Individual Investors and Non-Institutional Investors can also use the Unified Payments Interface (UPI) for application amounts up to `500,000.
Promoters: The promoters of the company are:
Goswami Infratech Private Limited
Shapoorji Pallonji and Company Private Limited
Floreat Investments Private Limited
Shapoorji Pallonji Mistry
Firoz Cyrus Mistry
Zahan Cyrus Mistry
Selling Shareholder: Goswami Infratech Private Limited is the selling shareholder in the offer-for-sale portion of the IPO. Their weighted average cost of acquisition per equity share is 10.14.
Red Herring Prospectus (RHP): The RHP contains detailed information about the IPO, the company, and the offer. Potential investors are advised to carefully review this document, particularly the “Risk Factors” section, before making any investment decisions.
Financials Information
| 1 Mar 2020 | 1 Mar 2021 | 1 Mar 2022 | 1 Mar 2023 | 1 Mar 2024 | |
| Sales | 9934 | 9376 | 11019 | 12637 | 13268 |
| OPM % | 8.00% | 9.00% | 9.00% | 11.00% | 10.00% |
| Other Income | 186 | 138 | 244 | 185 | 367 |
| Net Profit | 248 | 170 | 358 | 411 | 450 |
Company Details
Core Business Verticals:
Marine and Industrial: Ranked among the world’s top 10 marine contractors, Afcons has completed over 235 projects, including LNG tanks and port facilities, solidifying strong ties with the private sector.
Surface Transport: Known for timely completion of challenging expressways and rail infrastructure, Afcons ranks 42nd globally in transportation, delivering bridges, tunnels, and roadways across India.
Urban Infrastructure: With expertise in elevated and underground metro systems, Afcons has constructed over 120 km of metro lines and bridges. The company is currently building India’s first undersea tunnel for the Mumbai-Ahmedabad high-speed rail.
Oil and Gas: As India’s first to deploy float-over technology, Afcons handles major offshore and onshore projects, recording over 52.8 million safe work hours.
Hydro and Underground: Experienced in tunnels and irrigation systems, Afcons has constructed over 50 km of tunnels using the NATM technique, ranking 18th internationally in this sector.
Global Recognition: Afcons ranks highly across ENR’s (Engineering News-Record) international contractor lists, underscoring its reputation and innovative capabilities. This IPO opportunity reflects the company’s strong, diversified portfolio and commitment to growth in the infrastructure sector.
