Afcons Infrastructure Limited (NSE: AFCONS): Afcons Infrastructure’s share price has surged. The share jumped over 7 percent to the price of Rs 564.40 in BSE and set a new 52-week record.
The sudden increase is due to a huge order. Afcons Infrastructure has received a Letter of Acceptance (LoA) from Madhya Pradesh Metro Rail Company for the Bhopal Metro Rail Project.
This Project Is Worth Rs 1006 Crore
The project, which is worth the sum of Rs 1006 crore, was awarded by the company Afcons Infrastructure and includes the design and construction of an elevated viaduct, as well as thirteen elevated stations for metro trains.
It must be finished in 36 months. As of November 1, the firm was issued the Notice of Acceptance (LoA) worth Rs 1274 crores in the form of Uttarakhand Project Development and Construction Corporation (UPDCC) for hydromechanical and civil works.
The Company’s IPO Came At Rs 463
The Afcons Infrastructure’s IPO was available for registration on October 25, 2024, and was open until 29 October.
The cost of the company’s shares during the IPO was the sum of Rs 463. Afcons Infrastructure share was listed on BSE on November 4, 2024, for Rs 430.05.
The day of the listing the shares of the company closed at Rs 474.55 with a gain. The Afcons Infrastructure’s IPO was viewed by investors at a rate number of 2.77 times.
The quota for retail investors of Afcons Infrastructure’s IPO was a mere 0.99 times. In addition, 1.77 times subscription was obtained in the category of employees.
When the firm went public in its IPO, 5.31 times bets were put in the non-institutional investor (NII) class.
Afcons Infrastructure is an infrastructure engineering and construction company belonging to Shapoorji Pallonji Group. Afcons Infrastructure was started in 1959.
Quick Fact
| Company name | Afcons Infrastructure |
|---|---|
| Main business | Infrastructure engineering and construction |
| Parent company | Shapoorji Pallonji Group |
| Year established | 1959 |
| Recent share movement | Share jumped 7% to ₹564.40 |
| Reason for share jump | Huge project order |
| Project awarded | Bhopal Metro Rail Project |
| Project value | ₹1006 crore |
| Project scope | Design and construction of viaduct and 13 elevated stations |
| Project duration | 36 months |
| Recent acceptance letter | Uttarakhand hydromechanical and civil works |
| Acceptance letter value | ₹1274 crore |
| IPO date | October 25-29, 2024 |
| IPO price | ₹463 |
| Listing date | November 4, 2024 |
| Listing price | ₹430.05 |
| First-day close price | ₹474.55 |
| IPO subscription rate | 2.77 times |
| Retail investor quota | 0.99 times |
| Employee subscription | 1.77 times |
| Non-institutional investor subscription | 5.31 times |
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