Afcons Infrastructure Limited’s Initial Public Offering to open on Friday, October 25, 2024, price band set at ₹440/- to ₹463/- per Equity Share

Chennai: Afcons Infrastructure Limited, the flagship infrastructure, engineering and construction company of the Shapoorji Pallonji group, has fixed the price band of ₹440/- to ₹463/- per Equity Share of face value ₹10/- each for its maiden initial public offer.

Last week, Afcons Infrastructure raised Rs 2,967 crore from the company’s management, individual and institutional investors in a pre-IPO placement. The pre-IPO book included names like GIC Singapore, Enam Holdings (Akash Bhanshali), Synergy Capital, 360 One, M&G Investments, Think Investments, Discovery Capital Management, Artian Investment from ArcelorMittal, Madhusudan Kela, White Oak and more.

The Initial Public Offering (“IPO” or “Offer”) of the Company will open on Friday, October 25, 2024, for subscription and close on Tuesday, October 29, 2024. Investors can bid for a minimum of 32 Equity Shares and in multiples of 32 Equity Shares thereafter. A discount of ₹44 per equity share is being offered to eligible employees bidding in the employee reservation portion.

The IPO is a mix of fresh issue of up to Rs 1250 crore and an offer of sale up to Rs 4180 crore.