Afcons wins ₹1,006 cr Bhopal Metro order on listing day; stock rises
Shares of Afcons rose 3.5% in intraday trade to hit a high of ₹479.25 on the BSE after making a muted debut on stock exchanges today.
Shares of Afcons rose 3.5% in intraday trade to hit a high of ₹479.25 on the BSE after making a muted debut on stock exchanges today.
The share price of Afcons Infrastructure listed at ₹426 on the NSE, down 8% against the IPO price of ₹463 apiece.
This is the second recent IPO after Hyundai Motor India which failed to garner strong response from retail investors.
The three-day IPO of Afcons Infra will close on October 29, while the tentative date for listing of shares on the BSE and NSE is November 4, 2024.
The infrastructure firm has cut OFS size to ₹4,180 from ₹5,750 crore mentioned in the DRHP after it raised ₹2,896 crore in the pre-IPO round.
The IPO of Afcons Infrastructure is a mix of fresh issue of shares of ₹1,250 crore and an offer for sale of up to ₹5,750 crore by Goswami Infratech Private Limited.
The IPO is a mix of fresh issue of shares up to ₹1,250 crore and an offer for sale (OFS) of up to ₹5,750 crore by Goswami Infratech Private Limited.