The allotment for Afcons Infrastructure’s initial public offering (IPO) will be completed on Wednesday, October 30, after seeing double subscription led by the Non-Institutional Investors (NII) category.

After seeing a muted response from investors, Afcons Infrastructure IPO has registered a global offering 2.77 times before closing for bidding.

The public issue registered a subscription of 0.99 times in the retail category. In the Qualified Institutional Buyers (QIB) segment, demand was higher with subscriptions reaching 3.99 times. Meanwhile, the Non-Institutional Investor (NII) category saw the strongest interest with 5.31 times subscriptions.

Investors who have bid for the Afcons Infrastructure IPO can check their allotment status online. They can either log on to the website of the Bombay Stock Exchange (BSE) or to the website of Link Intime India Private Ltd, the registrar of the issue.

HOW TO VERIFY THE ALLOCATION STATUS

If you have applied for Afcons Infrastructure IPO, you can check your allotment status online in a few simple steps:

STEPS TO VERIFY THE ALLOCATION THROUGH THE BVB WEBSITE

Go to the BVB website by clicking here.

Click on “Equity”.

choose ‘Waaree Energies Limited” from the list.

Enter your application number and PAN card ID.

Confirm you are not a robot and submit.

STEPS TO VERIFY ALLOCATION THROUGH LINK INTIME LIMITED

Visit Link Intime India Private Ltd website.

select “Waaree Energies Limited”.

Choose Application Number/Demat Account/PAN option and enter the details.

Enter Captcha.

Click on “SUBMIT” option.

THE LATEST GMP FOR WAAREE ENERGIES

Afcons Infrastructure’s IPO has been hit ever since it opened for bidding. The last Gray Market Premium (GMP) recorded is Rs 0 as of the latest update on 30 October 2024 at 8:32 AM.

The IPO price range was set at Rs 463. Based on this, the estimated listing price is expected to be Rs 463, calculated as the ceiling price plus the current GMP.

Afcons Infrastructure IPO comprises a new issue of 2.7 million shares valued at 1,250 million lei and an offer for sale (IPO) of 9.03 million shares worth 4,180 million lei.

The price range of the IPO has been set between 440 and 463 lei per share and requires a minimum offer of 32 shares. At the upper price band of Rs 463, retail investors needed to invest a minimum of Rs 14,816.

The listing is scheduled to take place on the BSE and NSE, with a tentative date of Monday, November 4, 2024.