Afcons Infra shares rebound 13% after listing in red as firm declared lowest bidder for Rs 1,007-cr project

Afcons Infra shares listed with a discount of 8 percent against the issue price of Rs 463 on Monday.

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

Choose Stock Exchange: BSE LIVE NSE LIVE

26 Aug, 2025 12:21

Volume

Todays L/H

More

×

Afcons Infra share price rebounded nearly 13 percent on November 4 after slipping to its intraday low of Rs 420.25 per share on the NSE. Shares of Shapoorji Pallonji Group's flagship infrastructure engineering and construction firm listed with a discount of 8 percent against the issue price of Rs 463 on Monday.

Afcons Infra stock made its debut at Rs 430.05, a discount of 7.11 per cent from the issue price on the BSE. It further declined 9.31 per cent to Rs 419.85.

At the NSE, it listed at Rs 426, registering a decline of 7.99 per cent. It further slipped to its intraday low of Rs 420.25 apiece. However, later in the day it recovered 13 percent to its day's high of Rs 474.70.

The uptick was witnessed after the company was declared lowest bidder for a project worth Rs 1,007 crore by Madhya Pradesh Metro Rail Corporation Limited.

A total of 5.20 crore shares changed hands today of Afcons Infrastructure generating a total turnover of Rs 2,331.59 crore. The large cap company has a market cap of Rs 17,317.14 crore.

ALSO READ | Afcons Infra shares debut at 8% discount to list at Rs 426 apiece on NSE

The initial public offer of Afcons Infrastructure got fully subscribed on the last day of share sale on Tuesday and ended with 2.63 times subscription. The Rs 5,430-crore initial share sale had a price band of Rs 440-463 per share.

The Maharashtra-based company plans to utilise Rs 80 crore from the fresh issue proceeds to buy construction equipment, Rs 320 crore for long-term working capital, Rs 600 crore to repay debt, and the rest for general corporate purposes.

Disclaimer: The views and investment tips expressed by experts on Moneycontrol are their own and not those of the website or its management. Moneycontrol advises users to check with certified experts before taking any investment decisions.