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Afcons Infra IPO Day 2: Subscription lags at 0.19x, GMP holds at 5%; bid?

Business Standard LogoBusiness Standard8h ago

Afcons Infra IPO Day 2: Subscription lags at 0.19x, GMP holds at 5%; bid? - Business Standard

Quick Summary:

Afcons Infrastructure is the flagship infrastructure, engineering, and construction company of the Shapoorji Pallonji Group, a diversified Indian conglomerate with a legacy of over six decades.

That said, the unlisted shares of Afcons Infrastructure are commanding a positive premium in the grey markets on Monday.

Afcons Infrastructure proposes to utilise the net proceeds from the public issue for capital expenditure toward the purchase of construction equipment, as well as for funding long-term working capital requirements.

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Article Details

Category: BusinessFinance

Markets:

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Source Website Secure: Yes (HTTPS)

News Sentiment: Negative

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-28 @ 12:30:25 (8 hours ago)

News Timezone: GMT +5:00

News Source URL: business-standard.com

Language: English

Article Length: 731 words

Reading Time: 5 minutes read

Sentences: 26 lines

Sentence Length: 29 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Standard

News ID: 23280255

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Update Frequency: 277 posts per day

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News Last Updated: 2 hours ago

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Publisher ID: #49

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