Afcons Infrastructure IPO: Should you bid? Here's what Anil Singhvi suggests

Afcons Infrastructure IPO: Ahead of this, Shapoorji Pallonji Group's flagship infrastructure engineering and construction firm said that it has mobilised Rs 1,621 crore from anchor investors.

Afcons Infrastructure IPO: According to Zee Business Managing Editor Anil Singhvi, investors should subscribe to this IPO for the long term. "This is one stock that investors should keep in their portfolio for 2-3 years," he said.

Afcons Infrastructure IPO: Here are some of the positives pointed out by Anil Singhvi

- Strong promoters and experienced management

- Dominant player in complex infra projects

- Diversified order book across geographies, clients, verticals

- Outstanding execution capacities

- Strong financial track record

- Reasonable valuations

Afcons Infrastructure IPO: Singhvi said that there is hardly any negative but cheaper valuations would have helped investors get good listing gain. He also said that it is very unlikely that the IPO will have negative listing. 

Afcons Infrastructure IPO: The price band has been fixed at Rs 440-463 per share.

Afcons Infrastructure IPO: The Rs 5,430-crore initial public offering (IPO) will open on October 25 and conclude on October 29. 

Afcons Infrastructure IPO: Promoter and promoter group entities own a 99 per cent stake in Maharashtra-based Afcons Infrastructure.

Afcons Infrastructure IPO: Founded in 1865, Shapoorji Pallonji Group (SP Group) is a diversified institution and has a leading presence in engineering & construction, infrastructure, real estate, water, energy and financial services sectors across the globe. In terms of listed industry peers, Afcons compares itself with Larsen & Toubro Ltd (L&T), KEC International Limited (KEC), Kalpataru Project International Ltd (KPIL), and Dilip Buildcon Ltd ( DBL). 

Afcons Infrastructure IPO: ICICI Securities Ltd, DAM Capital Advisors Ltd, Jefferies India Private Ltd, Nomura Financial Advisory and Securities (India) Private Ltd, Nuvama Wealth Management Ltd, and SBI Capital Markets Ltd are the book-running lead managers to the issue.

Afcons Infrastructure IPO: Link Intime India Private Ltd is the registrar for the issue.

Afcons Infrastructure IPO: The allotment is expected to be finalised on October 30, 2024.

Afcons Infrastructure IPO: The shares of Afcons Infrastructure will be listed on both the NSE and BSE. The listing is likely to happen on November 4, 2024.