2 weeks Ago
Afcons Infrastructure IPO Day 3 Live Updates: The initial public offering (IPO) for Afcons Infrastructure, the leading infrastructure engineering and construction company of the Shapoorji Pallonji Group, faced challenges during the first two days of bidding. On the second day of the share sale, Afcons Infrastructure IPO subscription stood at 36%. The segment for non-institutional investors achieved a 72% subscription, while the retail individual investors (RIIs) category saw a 36% subscription rate.
The qualified institutional buyers (QIBs) portion garnered an 8% subscription, and the employee segment was oversubscribed at 1.01 times. On the first bidding day, Afcons Infrastructure IPO was booked 10%.
Afcons Infrastructure revealed on Thursday that it has secured 1,621 crore from anchor investors. The IPO, valued at 5,430 crore, is set to remain open until today (Tuesday, 29 October). The price range for the shares has been established between 440 and 463.
This IPO includes a fresh issuance of shares worth 1,250 crore and an offer for sale (OFS) totalling up to 4,180 crore by the promoter, Goswami Infratech Pvt Ltd. Currently, the promoter and associated entities possess a 99 percent ownership in Afcons Infrastructure, based in Maharashtra. Afcons Infrastructure IPO Day 3 Live Updates: Here's what GMP indicates on third day of bidding Afcons Infrastructure IPO GMP today is +40.
This indicates Afcons Infrastructure share price was trading at a premium of 40 in the grey market, according to investorgain.com. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Afcons Infrastructure share price is indicated at 503 apiece, which is 8.
64% higher than the IPO price of 463. According to the grey market activities observed over the last 31 sessions, the present GMP ( 40) indicates a downward trend. The lowest recorded GMP is 0, while the peak GMP is 225, as per the insights from investorgain.
com experts. 'Grey market premium' indicates investors' readiness to pay more than the issue price..
