Afcons Infrastructure IPO Day 2 Highlights: After a tepid start on the first day of the bidding process on Friday, October 25, demand for the highly anticipated initial public offering (IPO) Afcons Infrastructure also remained moderate on the second day.

The IPO was 36% subscribed at the end of the second day, with only the employee share witnessing oversubscription. None of the other categories have yet managed to qualify.

The quota allocated to qualified institutional buyers (QIB) received only 8% bids while the retail share was subscribed at 36%. The Non-Institutional Investor (NII) category today recorded 72% subscription at the end of the second day of the IPO.

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

The Afcons Infrastructure IPO price range has been set at ₹440 to ₹463 per equity share. At the high end of the price range, the company plans to increase ₹5,430 crore from the booked issue, which is a combination of a fresh issue of 2.7 crore shares of capital value ₹1,250 crores and an offer for sale of 9.03 crore shares amounting to ₹4,180 million.

On the first day of the offering, the Afcons Infrastructure IPO was subscribed to a total of 10%.