Afcons Infrastructure is a leading subsidiary of Shapoorji Pallonji Group. It is an infrastructure and construction company that started its services in 1959 in Mumbai, Maharashtra. Bridges, flyovers, metros, tunnels, pipelines, roads, ports, and oil-gas projects are the working fields of the company. Starting as an independent company, Shapoorji Pallonji Group acquired it in 2000. It has a lot of notable projects that we will discuss below. Cyrus Mistry worked as chairman from 2003 to 2012. Later, Shapoor Mistry takes this position. The company has recently opened its IPO. Let us discuss the current subscription status of Afcons Infrastructure Limited’s IPO below.
Afcons Infrastructure Limited IPO & Latest News
Afcons Infrastructure Limited’s IPO opened on 25 October 2024. It will close on 29 October 2024. The company raised Rs. 5,430 Crores for 2.7 crore fresh shares and offered for sale of 9.03 Crores shares. These shares have a face value of Rs. 10 per share with a price band of Rs. 440 to Rs. 463 per share. The first day of the IPO went well. Afcons expects to allot shares on 30 October 2024. There will be a lot size of 32 shares. Let us have a look at Afcons Infrastructure Limited’s GMP and subscription status below.
Afcons Infrastructure Limited GMP And Subscription Status
Afcons Infrastructure Limited’s IPO has been subscribed 0.14 times on its first day. The subscription for QIB was 0.11 times. NII subscribed 0.12 times. The retail was for 0.15 times with employees subscribing 0.42 times. Following is the table to show the GMP prices:
18-10-2024: Rs. 0
19-10-2024: Rs. 225
20-10-2024: Rs. 160
21-10-2024: Rs. 70
22-10-2024: Rs. 45
23-10-2024: Rs. 75
24-10-2024: Rs. 60
25-10-2024: Rs. 15
26-10-2024: Rs. 15
These are the GMP prices for the past week of Afcons Infrastructure.
Afcons Infrastructure Limited Projects
Afcons Infrastructure has worked on the following projects:
- Jammu-Udhampur Highway: It is considered as the fastest project in NHAI’s history. It was completed before the due date in 2014. The contract between Afcons Infrastructure Limited and SP Jammu Udhampur Highway Private Limited.
- Jewel of Creek Development: The project involved the construction of the first-ever double-decker tunnel in the centre of Dubai. Under this project, Afcon infrastructure constructed an underpass on the busy Baniyas Road and Itihad Road to provide access to the Jewel of Creek development.
- Lusaka City Roads Decongestion Project, Zambia: The project took place in Zambia under a contract with the Ministry of Local Government and Housing, Zambia in 2021.
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