Afcons Infrastructure Limited IPO

Incorporated in 1959, Afcons Infrastructure Limited is an infrastructure engineering and construction company of the Shapoorji Pallonji group, with a legacy of over six decades. As of September 30 2023, the company has completed 76 projects across 15 countries with a total historic executed contract value of Rs 522.20 billion.

As of September 30, 2023, the company has 67 active projects across 13 countries, totaling an order book of Rs 348.88 billion.

The company is globally present in Asia, Africa and Middle East.

The company has five major infrastructure business verticals

  1. Marine and industrial projects include covering ports, harbor jetties, dry docks, wet basins, breakwaters, outfall and intake structures, liquefied natural gas tanks, and material handling systems.
  2. Surface transport projects cover highways, roads, interchanges, mining-related infrastructure, and railways.
  3. Urban infrastructure projects include elevated and underground metro works, bridges, flyovers, and elevated corridors.
  4. Hydro and underground projects cover dams, barrages, tunnels (including large road tunnels), and underground works, water, and irrigation.
  5. Oil and gas projects cover both offshore and onshore oil and gas projects.

Competitive Strength

  • Strong Track Record of Timely Execution of Large-Scale, Complex and High-Value Projects
  • Diversified Order Book across Geographies, Clients, and Business Verticals, Longstanding Relationships with Clients Globally, and Strong Financial Performance.
  • Collaboration among internal teams, JV counterparties, and a strategic equipment base, leading to strong execution capabilities.

Afcons Infrastructure Ltd Financial Information (Restated Consolidated)

Afcons Infrastructure Limited’s revenue increased by 6% and profit after tax (PAT) rose by 9% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended30 Jun 202431 Mar 202431 Mar 202331 Mar 2022
Assets17,184.5816,233.6414,301.2512,973.77
Revenue3,213.4713,646.8812,844.0911,269.55
Profit After Tax91.59449.76410.86357.61
Net Worth3,662.253,575.053,155.062,691.03
Reserves and Surplus3,342.523,255.222,653.752,190.11
Total Borrowing3,365.12,4551,562.821,555.2
Amount in ₹ Crore

Key Performance Indicator

The market capitalization of Afcons Infrastructure IPO is Rs 17026.18 Cr.

KPI as of June 30, 2024.

KPIValues
ROE10.55%
ROCE14.89%
Debt/Equity0.91
RoNW2.50%
P/BV4.31
PAT Margin (%)2.85
 Pre IPOPost IPO
EPS (Rs) 13.29.96
P/E (x) 35.0846.48
Note:
  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2024 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of June 30, 2024 that is available in RHP.

Objects of the Issue (Afcons Infrastructure IPO Objectives)

The Company proposes to utilise the Net Proceeds towards funding the following objects
  • Capital expenditure towards 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 purpose

Afcons Infrastructure IPO Details

IPO DateOctober 25, 2024 to October 29, 2024
Listing Date[.]
Face Value₹10 per share
Price Band₹440 to ₹463 per share
Lot Size32 Shares
Total Issue Size117,278,618 shares
(aggregating up to ₹5,430.00 Cr)
Fresh Issue26,997,840 shares
(aggregating up to ₹1,250.00 Cr)
Offer for Sale90,280,778 shares of ₹10
(aggregating up to ₹4,180.00 Cr)
Employee DiscountRs 44 per share
Issue TypeBook Built Issue IPO
Listing AtBSE, NSE
Share holding pre issue340,738,269
Share holding post issue367,736,109

Afcons Infrastructure IPO Promoter Holding

The promoters of the Company are Goswami Infratech Private Limited, Shapoorji Pallonji and Company Private Limited and Floreat Investments Private Limited.

Share Holding Pre Issue99.48%
Share Holding Post Issue 

SHARIAH SCREENING for - Afcons Infrastructure Limited IPO

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BUSINESS SCREEN

FINANCIAL RATIOS

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