AVP Infracon was incorporated on September 9, 2009. The company is a dynamic private sector firm involved in constructing road projects based on Bill of Quantities (BOQ) and engineering, procurement, and construction methods. Engaged in the construction business, AVP Infracon undertakes to construct, build, alter, acquire, convert, improve, design, erect, establish, equip, develop, dismantle, pull down, level, decorate, fabricate, reconstruct, renovate, remodel, and rebuild all types of infrastructure developmental works. This includes technically complex and high-value projects like expressways, national highways, flyovers, bridges, viaducts, irrigation projects, and urban development, including civic amenities, hospitals, warehouses, hotels, and other commercial and residential projects.
| Bidding Dates |
|---|
| 13 Mar 2024 - 15 Mar 2024 |
| Subscription |
|---|
| 18.53x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,13,600 | 1 | 1 | 1600 | 7.0 M | ₹71 - ₹75 | 62.33 % | ₹495.5 M - ₹523.4 M | RHP DOC |
AVP Infracon IPO SUBSCRIPTION STATUS
15 Mar '24AVP Infracon IPO overall subscription rate was 18.53 times the total available shares
AVP Infracon IPO retail subscription rate was 27.55 times in the retail segment
AVP Infracon IPO non-institutional investor subscription rate was 57.51 times in the non-institutional investor category
AVP Infracon IPO Qualified Institutional Bidder subscription rate was 0.51 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
15 Mar 2024 (Day 3) | 27.55x | 57.51x | 0.51x |
14 Mar 2024 (Day 2) | 6.94x | 4x | 0x |
13 Mar 2024 (Day 1) | 2.01x | 0.76x | 0x |
AVP Infracon FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 7MFY24 | 85.6 | 740.5 | -61.8 | -124.2 | 23.4% |
| FY23 | 120.5 | 1,149.8 | -96.3 | -186.0 | 19.8% |
AVP Infracon IPO SUBSCRIPTION STATUS DETAILS
AVP Infracon had 7.0 M shares on offer
AVP Infracon IPO offer price was in the range ₹71 - ₹75
AVP Infracon IPO minimum Investment was ₹113600
AVP Infracon IPO issue size was ₹ 495.5 M - ₹ 523.4 M
AVP Infracon had a minimum lot size of 1600 Shares per application
AVP Infracon NUMBER OF SHARES ON OFFER
AVP Infracon IPO IMPORTANT DATES
| Issue Open Date | 13 Mar 2024 |
| Issue close Date | 15 Mar 2024 |
| Allotment Date | 18 Mar 2024 |
| Refund Date | 19 Mar 2024 |
| Demat Account Credit Date | 19 Mar 2024 |
| Listing Date | 20 Mar 2024 |
| Listing on Exchange(s) | NSE |
| AVP Infracon Allotment Status | Exchange |
AVP Infracon IPO subscription opened on 13 Mar 2024, and closed on 15 Mar 2024
IPO allotment for AVP Infracon was finalized on Monday, 18 Mar 2024
IPO listing for AVP Infracon was on NSE on Wednesday, 20 Mar 2024
AVP Infracon IPO LISTING GAINS
| Issue Price (adjusted) | 75.0 |
| Listing Open Price | 79.0 |
| Listing Close Price | 75.0 |
| Listing Gain% | 5.3% |
| Current Gain% | -15.1% |
AVP Infracon Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| AVP Infracon Ltd. | 63.6 | 159 | 3.8 | 0.1 | 0.4 | 23.6 | 8.2 | 442.7 | 50.1 | 42.1 | 27.2 | 16.9 | 27.2 |
| IRB Infrastructure Developers Ltd. | 19.7 | 23769.5 | 24.9 | -0.3 | 3.1 | 4 | 1.6 | 7854 | -2.2 | 850.4 | -86.9 | 0.8 | -85.4 |
| G R Infraprojects Ltd. | 870.7 | 8424.9 | 8.3 | -1 | 0.9 | 9.6 | 5.6 | 8527.3 | 12.3 | 902.8 | -11 | 105 | -7.9 |
| Dilip Buildcon Ltd. | 449 | 7293 | 5.6 | 0.1 | 0.8 | 19.1 | 6.9 | 9499.6 | -17.1 | 1302.4 | 103.2 | 80.2 | 103.2 |
| PNC Infratech Ltd. | 224.4 | 5756.2 | 7.9 | 0.9 | 1 | 12.2 | 6 | 5509.6 | -20.6 | 831.8 | 2 | 28.5 | 9 |
| Ashoka Buildcon Ltd. | 118.3 | 3321.8 | 1.3 | 0 | 0.4 | 38.8 | 19.5 | 7703.6 | -24.5 | 2550 | 50.5 | 90.8 | 50.5 |
AVP Infracon INFORMATION ON IPO ISSUE
About AVP Infracon
AVP Infracon was incorporated on September 9, 2009. The company is a dynamic private sector firm involved in constructing road projects based on Bill of Quantities (BOQ) and engineering, procurement, and construction methods. Engaged in the construction business, AVP Infracon undertakes to construct, build, alter, acquire, convert, improve, design, erect, establish, equip, develop, dismantle, pull down, level, decorate, fabricate, reconstruct, renovate, remodel, and rebuild all types of infrastructure developmental works. This includes technically complex and high-value projects like expressways, national highways, flyovers, bridges, viaducts, irrigation projects, and urban development, including civic amenities, hospitals, warehouses, hotels, and other commercial and residential projects.
Object of the Issue
- To purchase capital equipment
- To meet working capital requirements
- General corporate purposes
- To meet public issue expenses
AVP Infracon - PROMOTERS
| Name |
|---|
| D Prasanna |
| B Venkateshwarlu |
AVP Infracon Lead Manager of the Issue
Share India Capital Services Private Limited
anand.srivastava@shareindia.co.in
AVP Infracon Registrar to the issue
Purva Sharegistry (India) Private Limited
support@purvashare.com
AVP Infracon Strengths
Strong order book
The company primarily concentrates on roads, bridges, flyovers, and irrigation projects, with a total of 14 projects valued at approximately Rs 235.4 crore
Quality assurance
The company is dedicated to the quality of its products, processes, and input raw materials. It adheres to quality standards as prescribed by customers to meet the desired results, which results in repetitive orders from the buyers
AVP Infracon Risks
Geographically concentrated
The company's entire revenue stream comes from activities within the state of Tamil Nadu. Any unfavourable developments in this region may impact the business
Negative cash flows
The company has reported negative cash flows from its operating, investing, and financing activities. Future operating losses or negative cash flows could adversely affect the results of its operations
IPO FAQs
The promoters of the company are D Prasanna and B Venkateshwarlu.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 71.0 - 75.0.
The IPO application opens on Mar 13, 2024 and closes on Mar 15, 2024.
The minimum lot size for the IPO is 1600. The maximum lot size for the IPO is 1600.
For all category investors, the minimum application amount for this IPO is Rs. 113,600.0, the maximum value for this IPO is Rs 120,000.0.
This IPO will be allotted on Mar 18, 2024.
The refund will be credited to your account on Mar 19, 2024.
The allotted shares will be credited to your demat on Mar 19, 2024.
AVP Infracon Ltd.’s shares listed on the stock exchanges on Mar 20, 2024.