06-Mar-2024
2 mins read
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AVP Infracon IPO is open for subscription from Wednesday, March 13, 2024, and will close on Friday, March 15, 2024. The price of the latest IPO is decided at Rs 71 to Rs 75 per share. The minimum lot size of this application for the retail category is 1600 shares. Meanwhile, the minimum lot size for the HNI category is 2 lots consisting of 3200 shares. The minimum amount of investment required for retail category investors is Rs 1,20,000 (75 x 1600 shares). However, for the HNI category, the minimum investment amount required is Rs 2,40,000 (75 x 3200 shares). AVP Infracon IPO is a book-built issue of Rs 54.32 crores. This upcoming IPO issue is completely a fresh issue of 69.79 lakh equity shares. The allotment for this IPO is expected to be finalised on Monday, March 18, 2024. AVP Infracon will be listed on NSE SME, and the listing date is fixed on Wednesday, March 20, 2024. The book-running lead manager of AVP Infracon IPO is Share India Capital Services Private Limited. The registrar for this IPO is Purva Sharegistry India Private Limited. The market maker for this latest IPO is Share India Securities.
About AVP Infracon Limited Company Profile
AVP Infracon Limited is a decade old company, founded in the year 2009, with a vision of becoming a leading infrastructure company in India. Company is engaged in the business of construction of road projects. The construction is on the basis of Bill of Quantities and Engineering, Procurement and Construction (EPC). Over the past decade, the company has completed a wide range of products. AVP Infracon Limited provides all types of Infrastructure development work and civil works. The works like construction and renovation of expressways, national highways, flyovers, bridges, irrigation projects and urban development and other commercial and residential projects. The company bids for the construction of roads, bridges, irrigation and canal projects. Company also bids for flyovers and industrial areas mainly in Tamil Nadu. Company clients include prominent names like Greater Chennai Corporation, National Highway Authority of India, Tamil Nadu Public Works Department, Tamil Nadu Departments, Ministry of Road Transport and Highways. As of January 2024, the company has completed over 40 projects worth Rs 31,321.03 lakhs and gives employment to the 100 people.
Objectives of AVP Infracon IPO
The net funds received from the IPO will be used to purchase the new capital equipment and to meet the WC requirements of the company. Other than this, the issue expenses will be covered. Moreover, the general corporate purposes like financing any payment like capital expenditure, acquisitions etc will also be met.
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Consolidated Financials of AVP Infracon Limited (Amt in Rs Lakhs)
The company reported a revenue of Rs 11,550.09 lakhs and profit after tax of Rs 1,205.31 lakhs for the year end on March 31, 2023. As per latest financial information available the company posted a revenue of 7,411.90 lakhs and net profit of Rs 855.78 lakhs for period end on 31 October 2023. The revenue increased by 60.99% and profit after tax increased by 335.32% between the FY ended on 31 March 2023 and 31 March 2022.
| Period Ended | 31-Oct-23 | 31-Mar-23 | 31-Mar-22 | 31-Mar-21 |
| Assets | 17,232.87 | 14,670.84 | 5,892.30 | 4,917.36 |
| Revenue | 7,411.90 | 11,550.09 | 7,174.20 | 6,362.17 |
| Profit After Tax | 855.78 | 1,205.31 | 276.88 | 170.05 |
| Net Worth | 3,405.31 | 2,549.66 | – | – |
| Reserves and Surplus | 1,605.31 | 2,069.66 | 566.65 | 409.77 |
| Total Borrowing | 7,791.95 | 6,729.31 | – | – |
Other Important Details of AVP Infracon IPO
| IPO Date | March 13, 2024 to March 15, 2024 |
| Listing Date | 20-Mar-24 |
| Face Value | Rs 10 per share |
| Price Band | Rs 71 to Rs 75 per share |
| Lot Size | 1600 Shares |
| Total Issue Size | 6,979,200 shares amounting to Rs 52.34 crore |
| Fresh Issue | 6,979,200 shares amounting to Rs 52.34 crore |
| Issue Type | Book Built Issue IPO |
| Listing At | NSE SME |
| Shareholding pre issue | 18,000,000 |
| Shareholding post issue | 24,979,200 |
| Market Maker portion | 731,200 shares |
Time-Table of AVP Infracon IPO
| IPO Open Date | Wednesday, March 13, 2024 |
| IPO Close Date | Friday, March 15, 2024 |
| Basis of Allotment | Monday, March 18, 2024 |
| Initiation of Refunds | Tuesday, March 19, 2024 |
| Credit of Shares to Demat | Tuesday, March 19, 2024 |
| Listing Date | Wednesday, March 20, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on March 15, 2024 |
Lot Size of AVP Infracon IPO
| Application | Lots | Shares | Amount |
| Retail – minimum | 1 | 1600 | Rs 120,000 |
| Retail – maximum | 1 | 1600 | Rs 120,000 |
| HNI – minimum | 2 | 3,200 | Rs 240,000 |
IPO Reservation of AVP Infracon Limited
| Category of Investors | Equity Shares Offered |
| Equity shares offered to Qualified Institutional Investors | Not more than 50 percent of the Net Issue |
| Equity shares offered to the Retail Investors | Not less than 35 percent of the Offer |
| Equity shares offered to Non-Institutional Investors | Not less than 15 percent of the Offer |
Key Performance Indicator of AVP Infracon Limited IPO
| KPI | Values |
| ROE | 25.05% |
| ROCE | 22.63% |
| Debt/Equity | 1.96 |
| RoNW | 25.05% |
| P/BV | 3.96 |
| PAT Margin | 11.70% |
EPS and P/E Ratio Post IPO
| Pre IPO | Post IPO | |
| EPS (Rs) | 6.7 | 5.87 |
| P/E (x) | 11.2 | 12.77 |
Promoters of AVP Infracon Limited and Their Holdings
The promoters of AVP Infracon company are Mr. D Prasanna and Mr. B Venkateshwarlu.
| Shareholding Pre Issue | 86.5 percent |
| Shareholding Post Issue | 62.34 percent |
Lead Manager(s) of AVP Infracon IPO
The lead manager for AVP Infracon IPO is Share India Capital Services Private Limited.
How do you apply for the AVP Infracon IPO?
Wait for the public issue to open for subscription, then click here to apply for the AVP Infracon Limited IPO with Bigul.
How do you check the allotment status of AVP Infracon IPO?
The registrar for AVP Infracon IPO is Purva Sharegistry India Private Limited. To check your allotment status, please click here.
FAQs
- What is AVP Infracon IPO?
AVP Infracon IPO is a book-built issue of Rs 54.32 crores. This upcoming IPO issue is completely a fresh issue of 69.79 lakh equity shares. The allotment for this IPO is expected to be finalised on Monday, March 18, 2024. The price of the latest IPO is decided at Rs 71 to Rs 75 per share. The minimum lot size of this application for the retail category is 1600 shares.
- Who are the lead managers for the AVP Infracon Limited IPO?
Share India Capital Services Private Limited is appointed as the lead manager for the IPO.
- What is the role of Purva Sharegistry India Private Limited in this IPO?
Purva Sharegistry India Private Limited is the registrar for AVP Infracon Limited, handling the IPO’s administrative aspects.
- How can I apply for the AVP Infracon IPO?
The public subscription of this new IPO will open on March 13, 2024. Click here to initiate the application process.
- How will the net proceeds from the IPO be utilised?
The net funds received from the IPO will be used to purchase the new capital equipment and to meet the WC requirements of the company. Other than this, the issue expenses will be covered. Moreover, the general corporate purposes like financing any payment like capital expenditure, acquisitions etc will also be met.
- How can I check the allotment status of the IPO?
Investors who applied can check the allotment status of the AVP Infracon Limited IPO 2024 by visiting here.
- What is the financial performance of AVP Infracon Limited?
The company reported a revenue of Rs 11,550.09 lakhs and profit after tax of Rs 1,205.31 lakhs for the year end on March 31, 2023. As per latest financial information available the company posted a revenue of 7,411.90 lakhs and net profit of Rs 855.78 lakhs for period end on 31 October 2023.
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