Afcons Infrastructure IPO Allotment Today: Here's How To Check Status And Latest GMP

The initial public offering of Afcons Infrastructure Ltd. received a strong demand from inventors on the last day of bidding on Oct. 29.

The mainboard issue was subscribed 2.63 times, the NSE data showed. The investors applied for 22,78,22,496 shares compared to 8,66,19,950 shares on offer.

The Non-institutional Investors (NIIs) subscribed their quota 5.05 times, while the retail portion of the IPO was booked 94%. The Qualified institutional buyers (QIBs) subscribed their category 3.79 times. The employees’ segment of the IPO was booked 1.67 times.

Afcons Infrastructure IPO price band was set between Rs 440 and Rs 463 per share.

The IPO is a combination of a fresh issue of 2.7 crore shares, worth Rs 1,250 crore, and an offer-for-sale (OFS) of 9.03 crore shares, aggregating to Rs 4,180 crore. The company aims to raise Rs 5,430 crore through its public offer.

The investors, who participated in the bidding process, are now awaiting the Afcons Infrastructure IPO share allotment status to be finalised.

Afcons Infrastructure IPO share allotment is expected to be finalised on Oct. 30. The company's shares will be listed on the NSE and BSE on Nov. 4.  

Link Intime India Pvt. Ltd. is the registrar for the issue. ICICI Securities Ltd., Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd), Jefferies India Private Ltd., Nomura Financial Advisory And Securities (India) Pvt Ltd, Nuvama Wealth Management Ltd. and SBI Capital Markets Ltd. have been appointed as the book running lead managers.

Investors who bid for the IPO can check its allotment status on the websites of the registrar and the BSE. 

• Visit the IPO allotment page on Link Intime India here. 

• From the dropdown menu for company names, select 'Afcons Infrastructure Limited’. (The name will be visible after the share allocation is done) 

• Choose any of these: PAN, Application Number, DP/Client ID or Account Number/IFSC.

• Enter the required details based on your selection.

• Click the 'Submit' button to check the allotment status.

• Visit the IPO allotment page on the BSE website here. 

• Select the issue type as 'Equity.' 

• Choose 'Afcons Infrastructure Limited' from the dropdown menu. 

• Put in your application number or PAN (Permanent Account Number). 

• Complete the 'Captcha' to verify that you are not a robot.

• Click on the 'Search' option to view your allotment status.

The IPO allotment status can also be checked on the NSE using the PAN and application number.

The grey market premium of Afcons Infrastructure IPO is Rs 0 as of 8:32 a.m. on Oct. 30, which translates to zero gains over the issue price, according to Chittorgarh's arm InvestorGain. The estimated listing price based on the GMP is Rs 463 per share.

Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.

Use of Proceeds

Afcons Infrastructure proposes to use the IPO proceeds to buy construction equipment. It will also utilise a portion of the funds for long-term working capital needs and repayment of debts. The remaining funds will be used for general corporate purposes.

About Afcons Infrastructure Ltd. 

Incorporated in 1959, Afcons Infrastructure Ltd. is the flagship infrastructure, engineering and construction company of the Shapoorji Pallonji Group.  The company offers its services in five major infrastructure verticals. It has a significant global presence with operations across Asia, Africa and the Middle East.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.