Afcons Infrastructure IPO: GMP jumps as Anand Rathi, other brokerages give buy tag. Membership status, other details

Afcons Infrastructure IPO: Bidding for the initial public offering (IPO) begins on October 25, 2024. Afcons Infrastructure IPO Subscription StatusThe public issue received 10% subscription after the first day of bidding. However, despite the weak secondary market bias, the gray market is showing positive signs. According to stock market experts, the company’s shares are available at a premium of Rs 1.5 lakh. Rs 59 in gray market today. On Thursday, shares of Afcons Infrastructure were trading at par with today’s gray market. This means that Afcons Infrastructure IPO GMP (Grey market sentiment) has increased after the first day of bidding.

Leading brokerages like Anand Rathi, Arihant Capital Markets, BP Equities, Canara Bank Securities, Geojit Securities, GEPL Capital, KR Choksi Securities, Marwari Shares & Finance, Mehta Equities, SMIFS and Swastika Investments have assigned the ‘Subscribe’ tag to the public. Issue.

afcons infrastructure ipo gmp today

Ahead of the Afcons Infrastructure IPO subscription opening date, the company’s shares were at par in the gray market today. However, after the bidding opened on Friday last week, the company’s shares became available in the gray market. Afcons Infrastructure IPO gmp is today 59, which is commendable considering the negative sentiments on Dalal Street.

Afcons Infrastructure IPO Review

Leading brokerage Anand Rathi has given a ‘Subscribe’ tag to Afcons Infrastructure IPO, saying, “At the upper band, the company is valued at 37.9 times its FY2024 earnings, as well as if we annualize FY2025 earnings. The valuation is 46.3 times the market capitalization of the company after the issue of equity shares. 1,70,261.8 million with a market cap-to-sales ratio of 1.34, based on FY2014 earnings. We believe the issue is fully priced and recommend a “Subscribe – Long Term” rating to the IPO.

BP Equities also gave a ‘buy’ tag to the book build issue, saying, “The company’s P/E ratio at the upper price band based on FY20 earnings is 35.1x, which is lower than the industry average P/E. /E. Given its strong position in the market, we recommend a “Subscribe” rating to the issue from a medium to long term perspective.

Geojit Securities has also given a ‘subscribe’ tag to the public issue, saying, “At the upper price band 463, AIL is trading at a P/E ratio of 38x for FY20, which is in line with its peers. With increased budgetary allocations and government initiatives aimed at infrastructure development including rapid urbanisation, AIL is strategically poised for significant growth. In view of its extensive experience in completing high-value and complex projects offering better margins. Geographic diversification with operations in multiple regions broadens their revenue base and reduces risks. With a strong order book and successful track record of project completion, we offer “Subscribe” rating for medium to long term investments.

Afcons Infrastructure IPO Subscription Status

After the first day of bidding, the public issue was subscribed 0.10 times, the retail portion 0.14 times and the NII portion 0.11 times.

The most likely Afcons Infrastructure IPO allotment date is 30 October 2024 while the most likely Afcons Infrastructure IPO listing date is 4 November 2024.

Disclaimer: The above views and recommendations are those of individual analysts, experts and brokerage firms, and not of Mint. We advise investors to consult certified experts before taking any investment decisions.