Afcons Infrastructure IPO GMP: Shapoorji Pallonji’s subsidiary company Afcons Infrastructure will be listed in the stock market on Monday, November 4. Shares of Afcons Infrastructure will be listed on both the major market exchanges BSE and NSE. Let us tell you that the IPO of Afcons Infrastructure opened on 25 October and closed on 29 October. After which the shares were allotted to the applicants on 30th October.
Afcons Infrastructure got only 2.77 times subscription
However, the company’s IPO did not get a very good response from investors. This IPO received a total subscription of only 2.77 times. Talking about the first two days, this IPO got only 0.36 times subscription. That means this IPO was not even half subscribed in the first two days and this was not at all a good thing for the company.
GMP price of shares reached negative
Due to lackluster response from investors, the gray market is also not showing much interest in the shares of Afcons Infrastructure. On Saturday, November 2, the premium of the company’s shares went negative in the gray market. According to the websites that track GMP i.e. gray market premium of shares, today GMP-3 of the company’s shares is going on. This means that the company’s shares can be listed at a discount in the stock market.
Afcons Infrastructure has raised Rs 5,430.00 crore from IPO
Afcons Infrastructure has raised a total of Rs 5,430.00 crore from its IPO. The company has issued 2,69,97,840 new shares worth Rs 1,250.00 crore in its IPO, while the promoters of the company have issued 9,02,80,778 shares worth Rs 4,180.00 crore through OFS. Retail investors had to invest at least Rs 14,816 for this IPO. In this amount he has been given 32 shares in 1 lot.
