IPO Details
Bidding Dates
To be announced
Minimum Investment
To be announced
Price Range
To be announced
Maximum Investment
To be announced
Retail Discount
To be announced
Issue Size
Up to [●] Equity Shares aggregating up to ₹ 70,000 million
Investor category and sub category
RIIs | NIIs | QIBs | Eligible employees |About Afcons Infrastructure Limited
Afcons Infrastructure Limited, the premier engineering and construction entity of the Shapoorji Pallonji Group, boasts over six decades of expertise in executing a wide array of complex and unique EPC projects both in India and internationally. Recognised as one of India’s largest international infrastructure companies by the 2023 ENR (Engineering News-Record, US) Top International Contractors rankings, Afcons has a significant global presence, especially in Asia, Africa, and the Middle East.
Over the last ten financial years up to September 30, 2023, Afcons successfully completed 76 projects across 15 countries, with a historic executed contract value of ₹522.20 billion. As of the same date, the company is managing 67 active projects across 13 countries, with an order book worth ₹348.88 billion. Notable projects include the Chenab Bridge, the world’s tallest single-arch railway bridge, and the Atal Tunnel, the world’s longest highway tunnel above 3,000 meters.
Afcons distinguishes itself in various infrastructure domains including marine and industrial, surface transport, urban infrastructure, hydro and underground, and oil and gas. Its commitment to excellence is underscored by multiple awards, including the prestigious MIKE (Most Innovative Knowledge Enterprise) award from 2018 to 2023 at both the India and Global levels.
Industry Outlook:
- India's infrastructure industry grew at a CAGR of 11.4%, increasing from ₹5,041.1 billion in FY 2018 to ₹7,750.6 billion in FY 2022.
- The Indian infrastructure sector will expand at a 9.9% CAGR, reaching ₹13,719.3 billion by FY 2028 from ₹8,560.5 billion in FY 2023.
Afcons Infrastructure Limited IPO Details
Afcons Infrastructure Limited IPO Dates
The exact dates are yet to be announced.
Afcons Infrastructure Limited IPO Price Band
The exact price range is yet to be announced.
Afcons Infrastructure Limited IPO Lot Size
The exact lot size is yet to be announced.
Afcons Infrastructure Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- Capital expenditure towards the purchase of construction equipment
- Funding long-term working capital requirements
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings and acceptances availed by the company
- General corporate purposes
Peer Details
The companies considered by Afcons Infrastructure as its peers include:
- Larsen & Toubro Limited
- KEC International Limited
- Kalpataru Project International Limited
- Dilip Buildcon Limited
How to Check the Allotment Status of the Afcons Infrastructure Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status. As such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Contact Details of Afcons Infrastructure Limited IPO
- Registered office: Afcons House, 16 Shah Industrial Estate, Veera Desai Road, Andheri (West), Mumbai, Maharashtra, 400053, India
- Phone: 022 6719 1214
- E-mail:gaurang@afcons.com
IPO Financials
| Particulars | For the period Ended on September 30, 2023 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Total Revenue (in ₹ million) | 66,553.51 | 128,440.90 | 112,695.49 | 95,211.24 |
| Profit After Tax (PAT) (in ₹ million) | 1,951.27 | 4,108.60 | 3,576.05 | 1,699.07 |
| Cash & Cash Equivalents (in ₹ million) | 6,507.53 | 3,193.21 | 4,470.85 | 6,125.25 |
| Net Worth (in ₹ million) | 33,327.08 | 31,550.64 | 26,910.30 | 23,694.65 |
| Debt to Equity Ratio(x) | 0.64 | 0.37 | 0.38 | 0.37 |
| Return on Equity (%) | 12.58% | 13.96% | 14.02% | 7.33% |
| Return on Capital Employed (RoCE) (%) | 17.06% | 20.04% | 17.30% | 16.50% |
| Earning Per Share (EPS)-in absolute ₹ | 5.73 | 12.06 | 10.49 | 4.99 |
Know before investing
Strengths
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Afcons Infrastructure has successfully completed 26 projects across 10 countries, with a total contract value of ₹255,041.42 million.
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Globally recognized, Afcons is ranked 10th in marine and port facilities and 12th in bridges by the 2023 ENR rankings.
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Afcons' diverse order book has grown from ₹262,484.65 million in 2021 to ₹348,883.91 million in 2023, reflecting strong financial and operational performance.
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Afcons has consistently won the MIKE award from 2018 to 2023 for its project management and knowledge practices excellence.
Risks
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Afcons faces bidding risks; it won 6, 16, 16, and 12 projects in 2023, 2023, 2022, and 2021 respectively, and failed bids are non-recoverable.
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Heavy reliance on government contracts, which constituted 68.42% of the order book as of September 30, 2023, exposes Afcons to policy and payment delays.
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Capital intensity requires significant working capital; as of September 30, 2023, working capital loans stood at ₹13,904.47 million, impacting liquidity.
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High receivable delays risk, with ₹21,060.94 million overdue by more than six months as of September 30, 2023, potentially straining cash flows.
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Afcons Infrastructure IPO FAQs
Afcons Infrastructure IPO is a book-built IPO. The exact dates and price range are yet to be announced.
The exact dates and price range are yet to be announced.
The IPO subscription window is not announced yet.
Retail investors can apply for a minimum of one lot. However, the lot size has not been announced yet.
The exact date is not announced yet.
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
- Check the IPO allotment status as such, Angel One will notify you of your IPO allotment status via push notification, email and SMS.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange. The exact date is not announced yet.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approving the payment mandate.
You can submit only one application using your PAN card.
