New Delhi: You must have heard the name of <a href="http://www.time.news/tata-sons-ipo-will-tata-sons-ipo-come-soon-know-why-such-speculation-is-being-made-tata-sons-ipo-coming-soon-or-not-know-latest-development/" title="Tata Sons IPO: Will Tata Sons IPO come soon? Know why such speculation is being made – tata sons ipo coming soon or not know latest development”>Shapoorji Pallonji Group of Maharashtra. Its main company is Afcons Infrastructure Limited. Its Rs 5,434 crore IPO opens for bidding today. Investors can bid in this till 29th October. We are telling you everything about this issue.
What is the company’s plan?
Be it the temple of Abu Dhabi, the underwater metro of Kolkata or the world’s highest railway bridge, Chenab Bridge of Jammu and Kashmir, all have been built by this company. In the upcoming IPO of the company, the price band of one share of Rs 10 has been fixed at Rs 440 to Rs 463. In this IPO, investors can bid for 32 shares in one lot. The IPO comprises a fresh issue of shares worth Rs 1,250 crore and an offer for sale (OFS) of up to Rs 4,180 crore by promoter Goswami Infratech. At present the promoter and promoter group entities hold 99% stake in Afcons Infrastructure.
Will get help in expansion plan
Of the IPO proceeds, Rs 80 crore will be used to purchase construction equipment, Rs 320 crore for long-term working capital, Rs 600 crore to repay debt and the rest for general corporate purposes. Afcons Infrastructure has vast experience in executing complex and challenging engineering projects both domestically and internationally. Keeping this in view, it is getting very important projects. This amount will help the company in its expansion plans.
what is gmp
There is currently moderate demand for shares of Afcons Infrastructure (Afcons Infrastructure IPO GMP) in the gray market. Around 8 am on Friday morning, the price of one share was being quoted at Rs 523. If the upper level of the price band i.e. Rs 463 is considered as the issue price, then at present a premium of Rs 60 or 12.96 per cent is being quoted on one share.
subscribe it or not
Most of the stock market experts are calling this IPO better. Analysts say that Apcons Infrastructure Limited is a well-known company of Shapoorji Pallonji Group. It has a proven track record. Therefore, money can be invested in these IPOs for the long term. This company is also successfully executing complex EPC projects. It currently has projects worth Rs 31,747 crore in its order book, which are spread across 12 countries.
Anchor Investors
Yesterday i.e. Thursday was the day for anchor investors in Afcons Infrastructure IPOs. On this day, anchor investors bought shares worth Rs 1621 crore. According to the information given by the company to the stock market, 35,021,597 shares have been allotted to Anchor Investors at the price of Rs 463 per share. Many foreign and domestic investors have bought shares in this part.