AVP Infracon IPO Listed with a 5.3% Premium, yet ended in a 5% Lower Circuit

AVP Infracon, renowned player in construction sector, recently made its debut on NSE SME platform through Initial Public Offering (IPO), AVP Infracon Limited shares debut at ₹79 with a 5.3% premium on NSE SME, but the lukewarm start sees them ending in a 5% lower circuit after the IPO. AVP Infracon shares began tepidly on NSE SME at ₹79, 5.33% higher than issue price of ₹75. IPO, which ran from March 13 to 15, was oversubscribed, with retail investors outnumbering non-institutional investors by 22.49 to 46.15. On first day, while QIB category saw no subscription, NII & Retail categories exhibited moderate interest. However, by second day, there was significant surge in subscriptions across all categories, especially in NII & Retail segments. By final day, IPO was oversubscribed substantially, with Retail category leading pack followed by NII, indicating strong retail investor interest. Overall, increasing subscription trend reflects growing confidence among investors in AVP Infracon's prospects.

AVP Infracon IPO Subscription & IPO Details

AVP Infracon IPO, valued at ₹ 52.34 crores, consisted entirely of fresh issues, totalling 69.79 lakh shares. subscription period, which spanned from March 13 to March 15, 2024, witnessed robust investor participation across various categories. Share Indi Capital Services Private Limited served as book running lead manager, while Purv Sharegistry Indi Pvt Ltd acted as registrar for issue. Additionally, Share Indi Securities played crucial role as market maker.

AVP Infracon IPO Subscribed 21.45 Times

During IPO subscription window, AVP Infracon experienced exceptional demand, resulting in oversubscription rate of 21.45 times. This heightened interest was particularly pronounced among non-institutional investors, whose subscription rate reached impressive 46.15 times. Retail investors also demonstrated strong appetite for AVP Infracon's shares, subscribing 22.49 times. Such robust subscription figures underscored investors' confidence in company's future prospects & its ability to deliver value in construction sector.

AVP Infracon IPO Subscription Status

AVP Infracon IPO subscribed 21.45 times. public issue subscribed 22.49 times in retail category, 1.05 times in QIB, & 46.15 times in NII category by March 15, 2024 (Day 3).

Read What You Must Know About AVP Infracon IPO?

Investors considering participation in AVP Infracon's IPO should take note of company's extensive experience & specialization in infrastructure development. With diverse portfolio encompassing road projects, civil works, & urban development initiatives, AVP Infracon has established itself as trusted player in industry. Moreover, company's track record of completing over 40 projects worth ₹ 31,321.03 lakhs underscore its operational efficiency & commitment to quality.

To Summarize

AVP Infracon's successful IPO listing on NSE SME platform, accompanied by 5.3% premium, reflects investor optimism regarding company's growth trajectory. listing of AVP Infracon IPO on NSE SME platform saw tepid debut, with stock opening at 5.3% premium over issue price of ₹75. However, lukewarm reception resulted in stock being locked in 5% lower circuit following its listing. Despite oversubscription during IPO, initial trading performance suggests cautious investor sentiment. Investors should monitor stock's performance closely in coming days to assess its potential for returns & volatility.