Afcons Infrastructure Limited

Afcons Infrastructure Limited is the flagship engineering and construction company of the Shapoorji Pallonji Group, headquartered in Mumbai. Founded in 1959, it carries out large, complex infrastructure projects on an engineering, procurement and construction basis across marine and port works, surface transport, urban infrastructure, hydro power, underground works, and oil and gas facilities, building assets such as bridges, metros, flyovers, ports, tunnels, roads and pipelines. Over more than six decades the company has built a large executed track record spanning dozens of countries across India, Asia, Africa and the Middle East, giving it meaningful export revenue alongside its domestic business. Its order book has grown steadily in recent years and spans government as well as private sector clients, though a substantial share of its work continues to come from government or government-owned entities. The company is controlled by Shapoorji Pallonji group entities, which retain majority ownership after the offering. Its scale, project diversification across sectors and geographies, and long operating history position it as one of India's leading listed infrastructure EPC players, though its profitability, like many capital-intensive contractors, runs on relatively thin margins relative to its large revenue base.

The company raised a significant anchor allocation ahead of the issue opening at the upper price band of Rs 463 per share. Notable global anchor participants included the Monetary Authority of Singapore, BlackRock, Fidelity, Goldman Sachs, Nomura, BNP Paribas, Morgan Stanley and the Florida Retirement System, alongside a broad set of domestic mutual funds and insurers including LIC Mutual Fund, HDFC Mutual Fund, ICICI Prudential Mutual Fund, Nippon Life India, Aditya Birla Sun Life and Mirae Asset.