AVP Infracon IPO Subscribed 21.45 times

About AVP Infracon IPO

AVP Infracon IPO, in its debut in market, initiated Initial Public Offering (IPO) amounting to substantial Rs 52.34 crores. This IPO, exclusively fresh issue, comprises 69.79 lakh shares.  offering opened for subscription on March 13, 2024, & concluded today, March 15, 2024, with allotment process set to be finalized by Monday, March 18, 2024. Marking its presence on NSE SME platform, AVP Infracon is scheduled for listing on Wednesday, March 20, 2024.

AVP Infracon IPO price band is established between ₹71 to ₹75 per share, with minimum lot size for application fixed at 1600 shares. For retail investors, minimum investment stands at ₹120,000, while for High Net Worth Individuals (HNI), minimum investment requirement is set at 2 lots, equivalent to 3,200 shares, totaling ₹240,000.  timeline for AVP Infracon IPO unfolds with offering opening on March 13, 2024, & closing on March 15, 2024, followed by basis of allotment on March 18, 2024, & initiation of refunds & credit of shares to Demat accounts on March 19, 2024, leading to its listing on March 20, 2024.

In terms of shareholding, AVP Infracon indicates pre-issue shareholding of 18,000,000 shares, which post-issue is anticipated to reach 24,979,200 shares. Additionally, Market Maker portion is set at 731,200 shares, signifying company’s strategic positioning within market. With meticulous focus on offering transparency & accessibility to investors, AVP Infracon emerges as compelling prospect within IPO landscape, poised to establish its footprint in realm of infrastructure & construction.

Read more about AVP Infracon IPO

Share India Capital Services Private Limited is book running lead manager of AVP Infracon IPO, while Purva Sharegistry India Pvt Ltd is registrar for issue.  market maker for AVP Infracon IPO is Share India Securities.

Final Subscription Status of AVP Infracon IPO

Here is final subscription status of AVP Infracon IPO as at close on by March 15, 2024 5:15:00 PM.

Subscription status of AVP Infracon Ltd IPO reveals interesting insights into investor sentiment across different categories:

Anchor Investors: This category witnessed subscription rate of 1 time, indicating moderate interest from anchor investors. They bid for entirety of shares offered, amounting to 18,70,400 shares, with total investment of ₹14.03 crores. Anchor investors typically comprise institutional investors & high net worth individuals who are offered shares ahead of IPO to anchor confidence in offering.

Market Maker: Similar to Anchor Investors, Market Maker category also subscribed at rate of 1 time. They bid for all shares offered, totalling 7,31,200 shares, with investment of ₹5.48 crores. Market Makers play crucial role in maintaining liquidity & facilitating smooth trading in secondary market post-listing.

Qualified Institutions: Qualified Institutions subscribed at rate of 1.05 times, indicating slightly higher level of interest compared to previous categories. They bid for 13,10,400 shares out of 12,48,000 shares offered, reflecting oversubscription.  total amount for this category stands at ₹9.83 crores.

Non-Institutional Buyers (NIB): This category exhibited robust demand, with subscription rate of 46.15 times. Non-Institutional Buyers bid for staggering 4,33,42,400 shares against 9,39,200 shares offered. This significant oversubscription underscores strong interest from high net worth individuals & other non-institutional entities.  total amount invested by NIBs amounts to substantial ₹325.07 crores.

Retail Investors: Retail investors demonstrated subscription rate of 22.49 times, reflecting substantial retail participation in IPO. Despite high subscription rate, allotment for retail investors might be subject to pro-rata basis due to oversubscription. Retail investors bid for 4,92,65,600 shares against 21,90,400 shares offered, with total investment of ₹369.49 crores.

Overall, IPO garnered significant attention across all investor categories, especially from Non-Institutional Buyers & Retail Investors, indicating strong market interest in AVP Infracon Ltd.  oversubscription across various categories underscores investor confidence in company’s growth prospects & attractiveness of its offering.

AVP Infracon IPO Allocation Quota for Various Categories

Data Source: NSE

How Subscription Built up for AVP Infracon IPO?

As of 15 Mar 24, 17:20

Key Takeaways

Here are key takeaways from subscription numbers on day-wise basis for Pratham EPC Projects Ltd as of close of IPO on 15^th March 2024:

Day 1 (March 13, 2024): QIBs remained at 0.00, NII showed moderate interest of 0.63 times, while Retail investors subscribed at 1.71 times, totalling cautious start with total subscription of 0.99 times.

Day 2 (March 14, 2024): QIBs remained at 0.00, NII surged to 2.51 times, & Retail investors displayed increased enthusiasm at 5.80 times, leading to total subscription of 3.44 times, indicating growing investor confidence.

Day 3 (March 15, 2024): QIBs subscribed at 1.05 times, NII demonstrated overwhelming interest at 46.15 times, & Retail investors maintained robust participation at 22.49 times, resulting in total subscription of 21.45 times, showcasing substantial oversubscription & strong market interest.