Today is the listing date for Afcons Infrastructure’s IPO. Experts, GMP signal muted stock debut on BSE, NSE

Afcons Infrastructure IPO Listing: Afcons Infrastructure Ltd, the flagship infrastructure company of the Shapoorji Pallonji group, is set to make its stock market debut today after its initial public offering (IPO) saw tepid demand from retail investors.

Afcons Infrastructure Ltd IPO listing date is today, November 4, 2024. Shares of Afcons Infrastructure Ltd will be listed on both stock exchanges: BSE and NSE.

“Trading members of the Exchange are hereby notified that with effect from Monday, November 4, 2024, the shares of Afcons Infrastructure Limited will be listed and admitted to trading on the Exchange in the List of Group ‘B’ securities,” the notice said. they said at the BSE.

Afcons Infrastructure shares will be part of a special preliminary session (SPOS) on Monday and will be available for trading from 10am.

Stock market analysts and Afcons Infrastructure IPO gray market premium (GMP) trends ahead of the share listing indicate the stock’s debut today is choppy. This is what the Afcons Infrastructure GMP IPO signals.

Afcons Infrastructure GMP IPO today

Afcons Infrastructure shares are showing a muted trend in the gray market. According to stock market observers, today’s GMP Afcons Infrastructure IPO ₹15 per share. This indicates that in the gray market, Afcons Infrastructure shares are trading higher by ₹15 more than their selling price.

Afcons Infrastructure IPO Listing Price

Based on today’s Afcons Infrastructure GMP IPO and issue price, the indicative listing price for Afcons Infrastructure shares is ₹478 per piece, representing a premium of 3.24% to the IPO price. ₹463 per share.

Analysts also expect Afcons Infrastructure’s share listing to remain unchanged or rise slightly today.

“Afcons Infrastructure Ltd received decent demand from members during the subscription period with over 2.77 subscriptions. The low subscription rate can be attributed to the weak listing profits that participants expect from the issue. Currently, the issue’s GMP is trading unchanged. We believe the subdued growth is likely a reflection of weak market sentiment. Overall, we believe pricing is fair relative to peers, justifying the upside,” said Sagar Shetty, research analyst at StoxBox.

With the company’s strong market presence, strong parent company, broad portfolio of solutions and higher concentration of government projects, the company is well positioned to benefit from economic tailwinds, he said.

“Given its strong market position, we believe the company is poised to capitalize on opportunities in emerging markets. Thus, we advise investors who will be allotted the shares to hold them for the medium to long term,” Shetty said.

Prashant Tapse, senior vice president, research and analyst at Mehta Equities Ltd, also expects Afcons Infrastructure IPO listing to be flat or even at a discount.

“Given all the parameters, lower-than-expected subscription volumes and parent loan weighting, as well as the continued subdued sentiment in the market, the listing of Afcons Infrastructure IPO will be unchanged at 5% + or – to its issue price. There is a high possibility of a negative listing, which may provide an opportunity for long-term investors to accumulate more on the first day of listing,” Tapse said.

For dedicated investors, he recommends holding it for the long term as he believes long-term growth will remain the same if the government focuses on infrastructure growth.

Afcons Infrastructure IPO details

The subscription period for the Afcons Infrastructure IPO began on Friday, October 25th and ended on Tuesday, October 29th. The IPO allotment was completed on October 30 and the Afcons Infrastructure IPO listing date has been set for today, November 4. The shares of Afcons Infrastructure will be sold and the shares are listed on both the stock exchanges: BSE and NSE.

Afcons Infrastructure IPO price range was fixed at ₹440 to ₹463 per share. At the top of the price range, the company attracted ₹5,430 crore from the registered issue, which was a combination of fresh issue of shares worth Rs 2.7 crore. ₹1250 crores and offer for sale of shares worth Rs 9.03 crores worth ₹4180 crores.

The Afcons Infrastructure IPO was subscribed 2.63 times in total. The public issue received 94% subscriptions in the retail category and 3.79 times in the qualified institutional buyers (QIB) category. The non-institutional investor (NII) category was subscribed 5.05 times, subscription data available on NSE shows.

ICICI Securities, Dam Capital Advisors Ltd, Jefferies India, Nomura Financial Advisory And Securities (India), Nuvama Wealth Management and SBI Capital Markets are the lead managers for the Afcons Infrastructure IPO, while Link Intime India is the registrar for the IPO.

Disclaimer: The opinions and recommendations expressed above are those of the individual analysts or brokerage firms and not of Mint. We advise investors to consult with certified experts before making any investment decisions.