Investors show moderate interest on Day 1, with 10% of Afcons Infrastructure IPO subscribed

Mumbai: The IPO reached a 10% subscription on the first day, which analysts describe as a cautious but steady start. While initial investor response has been moderate, industry experts anticipate increased interest in the following days as the offering gains traction among retail and institutional investors.

Bidding Period Open Until October 29:
The IPO is open for bidding until October 29, providing ample time for investors to analyze market trends and assess Afcons’ growth potential. The infrastructure sector in India is experiencing robust growth, bolstered by government initiatives aimed at enhancing national connectivity and industrial capacity.

Company Objectives:
With this IPO, Afcons Infrastructure aims to further solidify its market presence. The capital raised will be allocated towards working capital requirements, reducing debt, and investing in future projects. The company’s established reputation in high-value infrastructure projects makes it an attractive choice for investors seeking to enter the infrastructure and construction sectors.