Afcons Infrastructure IPO: Ahead of Afcons Infra IPO listing, you can gain a quick 6% return from their IPO. Because these indicators have been showing a potential 6% increase in the share listed on Afcon Infrastructure IPO.
How can Afcon Infrastructure IPO Ensure 6% Returns?
Because of its background, the Afcon Infrastructure IPO can ensure 6% Returns or potential rise in their stocks in Monday market.
Afcon Infrastructure is a firm under the Shapoorji Pallonji group firm where it engages itself in infrastructure construction in India.
Based on their fundamentals and performance of company, Afcon Infrastructure IPO was expecting decent response however all of it went upside down when shares were traded at -3 in the grey market, which accounts the price of share is 460 against 463. This was measures setback as Afcon Infrastructure IPO have rank for subscription between 25 to 29 October, with offering its shares in fixed price band of 440 to 463 per share with 32 shares as a lot size.
What Had Changed in Afcon Infrastructure IPO?
As of now, Afcon Infrastructure IPO have manage to raised 5430 crores through IPO, which can be breakdown into 1250 crores from fresh share sales and the rest 4180 crores from offer for sale.
It was this grey market set back is now turned into advantage because the grey market Premium for the issue have been signal positively. The Grey Market Premium (GMP) of rupees 20 to 25 a piece in unofficial market, suggesting a 5 to 6% listing pop for investors.
Overall, the issue was subscribed 2.6 times only, the qualified institutional bidders have booked their quota 3.79 times and rescued Afcon Infrastructure IPO. In addition to it the allocation of non institutional investors was booked 5.05 times, while retail investors went unsubscribed at 94% and only 1.6 times portion was booked by employee portion. The trend suggested a lack of interest by retail investors however institutional and non institutional investors have saved Afcon Infrastructure IPO.
Analyst on Subscription of Afcon Infrastructure IPO
Most of the analyst along with brokerages has a positive Outlook to the issue and even went on suggesting to subscribe Afcon Infrastructure IPO for long term.
Analyst forms such as SBI capital markets, Nuvama Wealth Management, ICICI Securities, Jefferies India, Nomura financial Advisory and Securities (India) what the book running lead managers for Afcon Infrastructure IPO, while Link Intime was the registrar for the issue.
Overall, the Afcon Infrastructure IPO went for listing however because of negative market Outlook by the retail ministers the expectation of IPO wasn’t met and in first few days of the Afcon Infrastructure IPO have even witnessed a negative value in grey market premium. However, the institutional and non-institutional investors came as a rescue and prevent this IPO from crash, because of strong foundations the institutional and non-institutional investors which are more into the long term gains are invested into Afcon Infrastructure IPO making it a decent debut on the Dalal Street.
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Afcons Infrastructure IPO
