Afcons Infrastructure IPO listing date on November 4. GMP signals shares to make weak debut on BSE, NSE

Afcons Infrastructure IPO: The initial public offering (IPO) of Afcons Infrastructure Ltd, the flagship infrastructure company of Shapoorji Pallonji group, saw a lukewarm demand from retail investors during its bidding period. The applicants now await Afcons Infrastructure IPO listing date which has been finalised.

Afcons Infrastructure IPO listing date is fixed as November 4, 2024. The equity shares of Afcons Infrastructure Ltd will be listed on both the stock exchanges on Monday.

“Trading Members of the Exchange are hereby informed that effective from Monday, November 4, 2024, the equity shares of Afcons Infrastructure Limited shall be listed and admitted to dealings on the Exchange in the list of ‘B’ Group of Securities,” a notice on BSE said.

Afcons Infrastructure IPO shares will be a part of Special Pre-open Session (SPOS) on Monday, November 4, and will be available for trading from 10:00 AM.

Investors look for Afcons Infrastructure IPO grey market premium (GMP) ahead of share listing to gauge the debut price. Here’s what Afcons Infrastructure IPO GMP signals.

Afcons Infrastructure IPO GMP Today

Afcons Infrastructure IPO GMP today has turned negative. According to stock market observers, Afcons Infrastructure IPO GMP is ₹-4. This indicates Afcons Infrastructure shares are trading at a discount of ₹4 to their issue price, in the grey market.

Considering the Afcons Infrastructure IPO GMP today and the issue price, the estimated listing price of Afcons Infrastructure shares is ₹459 apiece, which is at nearly 1% discount to the IPO price of ₹463 per share.

Afcons Infrastructure IPO Details

The bidding for Afcons Infrastructure IPO opened for public subscription on Friday, October 25, and closed on Tuesday, October 29. The IPO allotment was finalised on October 30 and the Afcons Infrastructure IPO listing date is November 4. Afcons Infrastructure shares will be listed on both the stock exchanges, BSE and NSE.

Afcons Infrastructure IPO price band was set at ₹440 to ₹463 per equity share. The company raised ₹5,430 crore from the book-built issue which was a combination of fresh issue of 2.7 crore equity shares worth ₹1,250 crore and offer for sale of 9.03 crore shares amounting to ₹4,180 crore.

As per the subscription data available on NSE, Afcons Infrastructure IPO was subscribed 2.63 times in total. The public issue received 94% subscription in the retail category, and 3.79 times in the Qualified Institutional Buyers (QIBs) category. The Non Institutional Investors (NII) category was booked 5.05 times.

ICICI Securities, Dam Capital Advisors Ltd, Jefferies India, Nomura Financial Advisory And Securities (India), Nuvama Wealth Management and SBI Capital Markets are the book running lead managers of the Afcons Infrastructure IPO, while Link Intime India is the IPO registrar.

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