Afcons Infrastructure IPO Day 3 Live Updates: The initial public offering (IPO) of Afcons Infrastructure, the leading infrastructure engineering and construction company of the Shapoorji Pallonji Group, has closed its subscription today (Tuesday, October 29) . The IPO, valued at ₹The issue progressed successfully to the third day with full subscription figures, although retail investors remained somewhat doubtful and it was not fully filled. The IPO was primarily led by non-institutional investors.

In the last day of bidding today, Afcons Infrastructure IPO was subscribed 2.63 times on the third day of subscription today, according to BSE data.

The initial share sale received a bid for 22,78,22,496 shares against 8,66,19,950 shares on offer, according to BSE.

The portion intended for individual investors received 94% subscription while the portion intended for non-institutional investors was subscribed 5.05 times. The Qualified Institutional Buyers (QIB) portion is booked 3.79 times. The employee share was subscribed 1.67 times.

The award process will begin on Wednesday October 30. Investors who have applied for the issue will be able to check the allotment status of Afcons Infrastructure IPO on the portal of the IPO Registrar, Link Intime India Private Ltd, tomorrow.

The IPO faced challenges during the first two days of bidding. On the second day of the share sale, subscription to the Afcons Infrastructure IPO stood at 36%. The non-institutional investor segment achieved a subscription rate of 72%, while the retail investor (RII) category recorded a subscription rate of 36%. The qualified institutional buyer (QIB) portion garnered 8% subscription, and the employee segment was oversubscribed at 1.01 times.

On the first day of offering, Afcons Infrastructure IPO was recorded at 10%. Afcons Infrastructure revealed on Thursday that it had obtained ₹1,621 crore from anchor investors. The IPO, valued at ₹5,430 crore, is expected to remain open till today (Tuesday, October 29). The stock price range was established between ₹440 and ₹463. This IPO includes a new issue of shares worth ₹1,250 crore and an offer for sale (OFS) totaling up to ₹4,180 crores by the promoter, Goswami Infratech Pvt Ltd. Currently, the promoter and associated entities own 99% stake in Maharashtra-based Afcons Infrastructure.

Stay tuned for more updates