Afcons Infrastructure IPO Closing Today - Afcons Infrastructure Limited, a premier player in India’s engineering and construction sector, is set to close its IPO today. Incorporated in 1959, Afcons serves as the flagship company of the Shapoorji Pallonji Group, boasting over six decades of expertise in the infrastructure industry.
Here’s an in-depth look at the company’s background, financial performance, and IPO subscription status, all crucial for potential investors.
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Company Overview and Global Reach
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Afcons Infrastructure has solidified its reputation as one of India’s leading infrastructure companies. The company ranks among the largest international infrastructure firms, according to the 2023 ENR Top International Contractors list, based on its FY23 international revenue (source: Fitch Report). Afcons has successfully completed 76 projects across 15 countries and is actively engaged in 67 ongoing projects spanning 13 countries.
Core Infrastructure Business Verticals
Afcons Infrastructure operates across five key business verticals:
1. Marine and Industrial
2. Surface Transport
3. Urban Infrastructure
4. Hydro and Underground
5. Oil and Gas Projects
These diverse segments allow Afcons to provide a range of infrastructure solutions that cater to both domestic and international markets.
Financial Performance Highlights (FY2024)
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Afcons Infrastructure has demonstrated steady financial growth, as shown in its FY2024 results:
Metric | Value | Year-over-Year Growth |
Revenue | ₹3,213.47 crore | 6% |
Profit After Tax (PAT) | Increased by 9% |
|
Market Capitalization | ₹17,026.18 crore |
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The company’s revenue growth, coupled with a steady increase in profitability, underscores its stable financial health and operational efficiency. Its market valuation of ₹17,026.18 crore positions Afcons among India’s top infrastructure companies.
Workforce Strength
Afcons boasts a substantial workforce, with 3,972 employees on its payroll and an additional 26,920 contract workers engaged in various projects. This large workforce is a testament to the company’s robust operations and extensive project commitments across multiple infrastructure domains.
IPO Subscription Status as of October 28, 2024
Afcons Infrastructure Limited’s IPO has garnered notable interest across various investor categories. The overall subscription level stood at 0.52 times as of October 28, 2024, at 5:30 PM, with the following breakdown:
Investor Category | Subscription Level |
Qualified Institutional Buyers (QIBs) | 0.88 times |
Non-Institutional Investors (NIIs) | 0.76 times |
Retail Investors | 0.39 times |
The IPO's subscription figures indicate strong institutional interest, particularly among QIBs, which reflects confidence in Afcons’ robust project portfolio and proven track record.
Final Thoughts
With its IPO closing today, Afcons Infrastructure Limited presents a unique investment opportunity for those interested in India’s growing infrastructure sector. Afcons’ extensive experience, solid revenue growth, and substantial market valuation make it a notable player in the market, especially for investors focusing on long-term gains in infrastructure investments.
Disclaimer
The article is just for informational purposes, it’s not financial or investment advice. Please make sure that before investing in any kind of investment in the share market, take financial advice from certified financial experts.
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