Afcons Infrastructure Limited IPO (Afcons Infrastructure Limited IPO) Details

Afcons Infrastructure Limited, a flagship engineering and construction arm of the Shapoorji Pallonji group, has opened its IPO for subscription from October 25 to October 29, 2024. With a targeted raise of approximately ₹5,430 crores, the IPO includes a fresh issue of ₹1,250 crores and an offer for sale up to ₹4,180 crores. The price band is set between ₹440 to ₹463 per share, with allocations of 35% for retail investors, 50% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). Expected to list on NSE on October 30, 2024, the IPO represents a promising opportunity for long-term investors.

Founded in 1959, Afcons Infrastructure has over 60 years of expertise and has completed 76 transformative projects across 15 countries as of September 30, 2023. With a robust order book valued at ₹348.88 billion and 67 active projects in 13 countries, Afcons’ global presence spans Asia, Africa, and the Middle East, strengthening its reputation as a premier infrastructure player.

The company operates across five major infrastructure verticals:

1. Marine & Industrial: Specializing in ports, harbors, jetties, and LNG tanks.
2. Surface Transport: Focused on highways, railways, and mining infrastructure.
3. Urban Infrastructure: Involved in metro systems, bridges, and flyovers.
4. Hydro & Underground: Handling tunnels, dams, and water systems.
5. Oil & Gas: Executing both onshore and offshore projects.

Afcons’ strengths lie in its timely execution of large-scale, high-complexity projects, backed by a diverse order book across geographies and sectors, strong client relationships, and solid financials. With revenue reaching ₹13,646.87 crores and profit at ₹449.74 crores in FY 2024, the company is positioned as a competitive investment with substantial long-term growth potential.