Afcons Infrastructure IPO: Share Allotment Finalised, GMP Hints Flat Listing; How To Check Status Online?

The initial public offering (IPO) of Afcons Infrastructure Ltd, the flagship infrastructure company of the Shapoorji Pallonji Group, has garnered a positive response from investors. As the bidding period closed recently, all eyes are now on the allotment of shares, which is to be finalized today.

Key Dates and Allotment Process

The Afcons Infrastructure IPO was open for subscription from October 25 to 29, allowing investors to participate in this significant offering. Today marks the critical date when the company will finalize the basis of share allotment. Successful applicants can expect to see their equity shares credited to their demat accounts on October 31, while refunds for unsuccessful bidders will also be processed on the same day. The official listing of Afcons Infrastructure shares is anticipated on November 4, 2024, with shares set to be listed on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE).

For those who want to check their allotment status online, the process is explained below. Investors can visit the websites of BSE or NSE or navigate to the official portal of the IPO registrar, Link Intime India. Here's how to check your allotment status:

On BSE:

Visit the BSE allotment status page: BSE Allotment Status.
Select 'Equity' in the Issue Type.
Choose 'Afcons Infrastructure Limited' from the Issue Name dropdown menu.
Enter either your Application Number or PAN.
Complete the CAPTCHA verification and click 'Search' to view your status.

On Link Intime:

Go to Link Intime's IPO registrar website: Link Intime IPO Status.
Select 'Afcons Infrastructure Limited' in the dropdown.
Choose between PAN, Application Number, DP ID, or Account Number.
Input the required details.
Click 'Search' to see your allotment status.

Grey Market Premium (GMP)

In terms of market sentiment, the grey market premium (GMP) for Afcons Infrastructure today stands at Rs 0, indicating that shares are trading flat and at par with their issue price. This means that Afcons Infrastructure shares command neither a premium nor a discount in the grey market, suggesting a stable interest at the set IPO price of Rs 463 per share. Consequently, the estimated listing price for Afcons shares is projected to be Rs 463 apiece.

Afcons Infrastructure IPO

The Afcons Infrastructure IPO opened for public subscription with a price band set between Rs 440 to Rs 463 per equity share. At the upper end of this price range, the company raised Rs 5,430 crore through a combination of a fresh issue of 2.7 crore equity shares worth Rs 1,250 crore and an offer for sale of 9.03 crore shares amounting to Rs 4,180 crore.

The public offering saw robust demand, being subscribed 2.63 times overall. Breaking this down further, retail investors accounted for a 94% subscription rate, while Qualified Institutional Buyers (QIBs) showed significant interest, oversubscribing by 3.79 times. Non-Institutional Investors (NIIs) were also active, booking the issue 5.05 times.

Leading the IPO's underwriting process are prominent financial institutions, including ICICI Securities, Dam Capital Advisors Ltd, Jefferies India, Nomura Financial Advisory and Securities (India), Nuvama Wealth Management, and SBI Capital Markets.