Resurgence: Afcons Infrastructure's Strong Market Debut

Resurgence: Afcons Infrastructure's Strong Market Debut Afcons Infrastructure Ltd, a significant player in the Shapoorji Pallonji Group's portfolio, showcased resilience in the stock market on Monday. Initially listed at a substantial discount, the firm's shares mounted a robust comeback, closing over 2% higher than its issue price by the end of the trading session.Debuting at Rs 430.05 per share on the BSE, a markdown of 7.11% from its issue price, the stock dipped further to Rs 419.85 during intraday trading. However, demonstrating remarkable recovery, it surged to Rs 474.55. A similar trend was noted on the NSE, where it opened at Rs 426 and closed at Rs 472.60, marking a 2% gain.Afcons Infrastructure's IPO was fully subscribed, reflecting strong investor interest with a 2.63-times subscription rate. The proceedings from the Rs 5,430-crore offering will be allocated towards purchasing construction equipment, enhancing working capital, reducing debt, and supporting general corporate objectives.

Afcons Infrastructure Ltd, a significant player in the Shapoorji Pallonji Group's portfolio, showcased resilience in the stock market on Monday. Initially listed at a substantial discount, the firm's shares mounted a robust comeback, closing over 2% higher than its issue price by the end of the trading session. Debuting at Rs 430.

05 per share on the BSE, a markdown of 7.11% from its issue price, the stock dipped further to Rs 419.85 during intraday trading.

However, demonstrating remarkable recovery, it surged to Rs 474.55. A similar trend was noted on the NSE, where it opened at Rs 426 and closed at Rs 472.

60, marking a 2% gain. Afcons Infrastructure's IPO was fully subscribed, reflecting strong investor interest with a 2.63-times subscription rate.

The proceedings from the Rs 5,430-crore offering will be allocated towards purchasing construction equipment, enhancing working capital, reducing debt, and supporting general corporate objectives. (With inputs from agencies.).