Afcons Infrastructure IPO Highlights Day 2: Issue 36% Subscribed. Check latest GMP, subscription details etc

Afcons Infrastructure IPO Day 2 Highlights: After a quiet start to the first day of trading on Friday, October 25, demand for the much-anticipated initial public offering (IPO) of Afcons Infrastructure remained subdued on the second day.

At the end of the second day, the IPO was 36% subscribed, with only a fraction of the staff observing oversubscription. None of the other categories have yet been able to pass.

The quota allocated to qualified institutional buyers (QIBs) received only 8% bids, while the retail portion was 36% subscribed. The non-institutional investor (NII) category saw 72% subscriptions at the end of the second day of the IPO today.

The public issue will remain open until Tuesday, October 29, meaning investors only have tomorrow to apply for the IPO.

Afcons Infrastructure’s IPO price range is set at ₹440 to ₹463 per share. At the top of the price range, the company plans to raise ₹5,430 crore from the book-build issue, which is a combination of a fresh equity issue of Rs 2.7 crore ₹1,250 crore and an offer for sale of 9.03 crore shares at Rs ₹4180 crores.

On the first day of trading, Afcons Infrastructure’s IPO was subscribed for a total of 10%.