Afcons Infrastructure Limited is an infrastructure engineering and construction company of the Shapoorji Pallonji group, with a legacy of over six decades.
As of September 30 2023, the company has completed 76 projects across 15 countries with a total historic executed contract value of Rs 522.20 billion.
As of September 30, 2023, the company has 67 active projects across 13 countries, totaling an order book of Rs 348.88 billion. The company is globally present in Asia, Africa and Middle East.
The company has five major infrastructure business verticals:
- Marine and industrial projects include covering ports, harbor jetties, dry docks, wet basins, breakwaters, outfall and intake structures, liquefied natural gas tanks, and material handling systems.
- Surface transport projects cover highways, roads, interchanges, mining-related infrastructure, and railways.
- Urban infrastructure projects include elevated and underground metro works, bridges, flyovers, and elevated corridors.
- Hydro and underground projects cover dams, barrages, tunnels (including large road tunnels), and underground works, water, and irrigation.
- Oil and gas projects cover both offshore and onshore oil and gas projects.
Afcons Infrastructure IPO – Details
| IPO Opening Date | 25 October 2024 |
| IPO Closing Date | 29 October 2024 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 11,72,78,618 Shares Worth ₹5,430.00 Crore Fresh Issue: 2,69,97,840 Shares Worth ₹1,250.00 Crore Offer For Sale: 9,02,80,778 Shares Worth ₹4,180.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹440 – ₹463 per share |
| Market Lot | 32 Shares |
| Min Order | 32 Shares (1 Lot) |
| Employee Discount | ₹44 |
| Listing At | BSE, NSE |
| Register | Link Intime India Private Ltd |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Afcons Infrastructure IPO – Date Schedule
| IPO Open Date | 25 October 2024 |
| IPO Close Date | 29 October 2024 |
| Basis of Allotment | 30 October 2024 |
| Initiation of Refund | 31 October 2024 |
| Credit of Shares to Demat Account | 31 October 2024 |
| IPO Listing Date | 04 November 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on October 29, 2024 |
Afcons Infrastructure IPO – Lots Size & Price
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 32 | ₹14,816 |
| Retail (Max) | 13 | 416 | ₹1,92,608 |
| S-HNI (Min) | 14 | 448 | ₹2,07,424 |
| S-HNI (Max) | 67 | 2,144 | ₹9,92,672 |
| B-HNI (Min) | 68 | 2,176 | ₹10,07,488 |
Competitive Strengths
- Strong Track Record of Timely Execution of Large-Scale, Complex and High-Value Projects;
- Large Order Book and Strong Financial Performance;
- Collaboration among Internal Teams and with JV counterparties, and a Strategic Equipment Base leading to Strong Execution Capabilities;
- Knowledge Management and Innovation Practices;
- Experienced Leadership Team with Shapoorji Pallonji Group parentage;
- Strong Risk Management, Project Selection and Dispute Resolution Processes.
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | 11,269.54 | 10,862.99 | 357.60 | 1,555.2 |
| 31 March 2023 | 12,844.09 | 12,245.01 | 410.86 | 1,562.82 |
| 31 March 2024 | 13,646.87 | 12,974.27 | 449.73 | 2,455.00 |
| 30 June 2024 | 3,213.47 | 3,078.02 | 91.58 | 3,365.10 |
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 10.55% |
| ROCE | 14.89% |
| Debt/Equity | 0.91 |
| RoNW | 2.50% |
| P/BV | 4.31 |
| PAT Margin (%) | 2.85 |
| Pre IPO | Post IPO | |
| EPS (Rs) | 13.20 | 9.96 |
| P/E (x) | 35.08 | 46.48 |
Object Of The Issue
- Capital expenditure towards the purchase of construction equipment.
- Funding long term working capital requirements.
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by the Company.
- General corporate purpose.
Afcons Infrastructure IPO Peer Comparison
| S. No. | Face Value | Company Name | PE |
| 1 | 2 | Larsen & Toubro Limited (L&T) | 37.14 |
| 2 | 2 | KEC International Limited (KEC) | 74.67 |
| 3 | 2 | Kalpataru Project International Limited (KPIT) | 42.20 |
| 4 | 10 | Dilip Buildcon Limited (DBL) | 37.63 |
Afcons Infrastructure IPO Promoter Holding
| Pre Issue Share Holding | 99.00% |
| Post Issue Share Holding | 67.18% |
Afcons Infrastructure IPO Prospectus
Company Contact Information
| Afcons Infrastructure Limited Afcons House, 16 Shah Industrial Estate, Veera Desai Road ndheri (West), Mumbai,-400053 Phone: 022 67191214 Email: gaurang@afcons.com Website: https://www.afcons.com/en |
Afcons Infrastructure IPO Registrar
| Link Intime India Private Ltd Phone: +91-22-4918 6270 Email: afconsinfrastructure.ipo@linkintime.co.in Website: https://linkintime.co.in/initial_offer/public-issues.html |
Afcons Infrastructure IPO Lead Manager(s)
| 1. ICICI Securities Limited 2. SBI Capital Markets Limited 3. DAM Capital Advisors Limited 4. Jefferies India Private Limited 5. Nuvama Wealth Management Limited 6. Nomura Financial Advisory and Securities (India) Private Limited |
Afcons Infrastructure IPO FAQs
| What is Afcons Infrastructure IPO? Afcons Infrastructure IPO is a main-board IPO. The issue is priced at ₹440 to ₹463 per equity share. The IPO is to be listed on BSE & NSE. |
| When Afcons Infrastructure IPO will open? The IPO is to open on 25 October 2024 for QIB, NII, and Retail Investors. |
| What is Afcons Infrastructure IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| How to Apply the Afcons Infrastructure IPO? You can apply Afcons Infrastructure IPO via ASBA online via your bank account. You can also apply for ASBA online via UPI through your stock brokers. You can also apply via your stock brokers by filling up the offline form. |
| How to Apply the Afcons Infrastructure IPO through Angle One? Log in to Angle One Application with your credentials. Select the IPO. You will see the IPO Name “Afcons Infrastructure IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Angle One. |
| How to Apply the Afcons Infrastructure IPO through 5 Paisa? Log in to 5 Paisa Application with your credentials. Select the IPO. You will see the IPO Name “Afcons Infrastructure IPO“. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with 5 Paisa. |
| How to Apply the Afcons Infrastructure IPO through Upstox? Log in to Upstox Application with your credentials. Select the IPO. You will see the IPO Name “Afcons Infrastructure IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with Upstox. |
| How to Apply the Afcons Infrastructure IPO through IIFL? Log in to IIFL Application with your credentials. Select the IPO. You will see the IPO Name “Afcons Infrastructure IPO”. Click on Bid Button. Confirm your Application. Now go to your UPI App on Net Banking or BHIM App to Approve the mandate. Open Demat Account with IIFL. |
| What is Afcons Infrastructure IPO Size? Afcons Infrastructure IPO size is ₹5,430.00 Crore. |
| What is the Afcons Infrastructure IPO Price Band? Afcons Infrastructure IPO Price Band is ₹440 to ₹463. |
| What is Afcons Infrastructure IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 32 Shares with ₹14,816 amount while the maximum bid is 416 Shares with ₹1,92,608. |
| What is the Afcons Infrastructure IPO Allotment Date? Afcons Infrastructure IPO allotment date is 30 October 2024. |
| What is the Afcons Infrastructure IPO Listing Date? Afcons Infrastructure IPO listing date is 04 November 2024. The IPO is to be listed on BSE and NSE. |
