About Afcons Infrastructure:
The company is the flagship infrastructure engineering and construction arm of the Shapoorji Pallonji group, recognized as the group’s leading entity in this domain. It has an impressive track record of executing numerous technologically complex engineering, procurement, and construction (EPC) projects both within India and internationally. According to the Fitch Report, it is one of India’s largest international infrastructure construction companies, as per the 2023 ENR (Engineering News-Record, US) Top International Contractors rankings, based on international revenue for the Financial Year 2023. Over the past eleven financial years and the three-month period ending on June 30, 2024, the company successfully completed 79 projects across 17 countries, with a total historic executed contract value of ₹563.05 billion.
About the Industry in which Afcons Infrastructure operates:
The global construction industry was valued at approximately US$5.7 trillion in 2023 and is expected to grow to US$7.8 trillion by 2029. This growth will primarily be driven by increasing construction investments in emerging markets. India is projected to remain the fastest-growing major economy, with a real GDP growth rate forecasted at 6.8% for the Financial Year 2026-2027. The Indian construction industry’s value stood at ₹23,978.0 billion as of the Financial Year 2023 and is expected to be the fastest-growing construction market globally. It is projected to grow at a compound annual growth rate (CAGR) of 9.5% to 10% between the Financial Years 2023 and 2028, reaching a market size of ₹38,508.9 billion by the Financial Year 2028
| Important Information and Timelines of the IPO of Afcons Infrastructure: | |
|---|---|
| Open Date | 25 October 2024 |
| Close Date | 29 October 2024 |
| Total Issue Size – Number of Shares | 117278618 |
| Minimum Bid Price | 440 |
| Maximum Bid Price | 463 |
| Lot Size | 32 |
| Basis of Allotment | 30 October 2024 |
| Initiation of Refunds and Credit of Shares to Demat | 31 October 2024 |
| Listing Date | 4 November 2024 |
| Listing Exchange(s) | NSE and BSE |
Minimum and Maximum Lot Sizes for the IPO of Afcons Infrastructure:
| Category | Lots | Shares | Amount (in ₹) |
|---|---|---|---|
| Retail – Minimum | 1 | 32 | 14816 |
| Retail – Maximum | 13 | 416 | 192608 |
| sHNI – Minimum | 14 | 448 | 207424 |
| sHNI – Maximum | 67 | 2144 | 992672 |
| bHNI – Minimum | 68 | 2176 | 1007488 |
Objective of the IPO of Afcons Infrastructure:
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Capital expenditure towards purchase of construction equipment.
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Funding long term working capital requirements.
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Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by our Company.
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General corporate purposes
Financials of Afcons Infrastructure:
| Particulars | Three months ended, June 30, 2024 | Three months ended, June 30, 2023 | Fiscal 2024 | Fiscal 2023 | Fiscal 2022 |
|---|---|---|---|---|---|
| Equity share capital | 3,407.40 | 719.70 | 3,407.40 | 719.70 | 719.70 |
| Instruments entirely equity in nature | - | 4,500.00 | - | 4,500.00 | 4,500.00 |
| Net Worth | 36,622.52 | 32,404.53 | 35,750.46 | 31,550.64 | 26,910.30 |
| Total Income | 32,134.70 | 32,215.01 | 1,36,468.74 | 1,28,440.90 | 1,12,695.49 |
| Revenue from Operations | 31,543.60 | 31,714.13 | 1,32,674.95 | 1,26,373.82 | 1,10,189.66 |
| Restated Profit for the period/year from continuing operations | 915.86 | 909.62 | 4,497.38 | 4,108.60 | 3,576.05 |
| - Basic | 2.69 | 2.67 | 13.20 | 12.06 | 10.49 |
| - Diluted | 2.69 | 2.67 | 13.20 | 12.06 | 10.49 |
| Restated net asset value per Equity Share (Basic) | 107.48 | 95.10 | 104.92 | 92.59 | 78.98 |
| Restated net asset value per Equity Share (Diluted) | 107.48 | 95.10 | 104.92 | 92.59 | 78.98 |
| Total current and non-current borrowings | 33,650.98 | 26,638.40 | 24,550.03 | 15,628.16 | 15,552.01 |
For more details on the IPO, refer to the DRHP here.
Did you know that you can now Pre-Apply for an IPO on Dhan? You can place your IPO Bid on Dhan and the order will be pushed to the Exchange as soon as the Bidding starts for Afcons Infrastructure. You will receive a UPI mandate after 10:00 AM on 25 October 2024.
###1. How to apply for the IPO of Afcons Infrastructure on Dhan?
You can apply for the IPO of Afcons Infrastructure from either Dhan Mobile App or Web
On Dhan Mobile App you can find the IPO under the Money Section > IPO Tab
On Dhan Web you can find the IPO under Markets Tab > IPOs
###2. In case of successful allotment, when the IPO shares of Afcons Infrastructure be visible on Dhan?
The CDSL will intimate you regarding the credit of shares into your Demat account by 31 October 2024. However, you will be able to see the shares of Afcons Infrastructure on Dhan before the market starts on the listing date which is 4 November 2024.