Afcons Infrastructure Ltd. offloaded a stake worth Rs 449 crore through open market transactions on Monday.
Goldman Sachs Funds - Goldman Sachs India Equity Portfolio bought 25 lakh shares for Rs 443.65 apiece, aggregating Rs 112.2 crore. Jupiter India Fund bought 25 lakh shares for Rs 446.70 apiece, aggregating Rs 112.7 crore, according to the bulk deal data on the National Stock Exchange.
Nomura Funds Ireland PLC Nomura Funds Ireland India Equity Fund bought 18 lakh shares for Rs 446.70 apiece, aggregating Rs 83.6 crore, according to the data.
Nomura India Investment Fund Mother Fund bought 31 lakh shares for Rs 453.40 apiece, aggregating Rs 140.5 crore.
Shares of Afcons Infrastructure closed 10.94% higher at Rs 474.20 apiece on the NSE, compared to a 1.27% decline in the benchmark Nifty 50.
The firm listed on the NSE on Monday at an 8% discount on the share price of Rs 426 apiece with an issue price of Rs 463 apiece. It had a premium of 2.07% over the aforementioned issue price. The stock finished at Rs 472.50 per share on the BSE, reflecting a premium of 2.05%.
The Rs 5,430-crore initial public offering of the infrastructure firm was oversubscribed by 2.63 times on the final day of bidding, with strong participation from non-institutional investors.
Qualified institutional buyers subscribed 3.79 times, while non-institutional investors bid 5.05 times. Retail investors accounted for 94% of the subscription, and employees subscribed at a rate of 1.67 times within their allotted shares.
Afcons Infrastructure, a subsidiary of the Shapoorji Pallonji Group, specialises in engineering and construction. The company operates across a range of sectors, including marine, surface transport, urban infrastructure, hydro and underground projects, as well as oil and gas.
With a presence in over 25 countries throughout Asia, Africa, and the Middle East, Afcons has successfully completed more than 350 infrastructure projects. Their portfolio includes the construction of large-scale structures featuring innovative designs and comprehensive construction services.
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