AVP Infracon IPO opens today: Price band at ₹71-75 per share, check details of SME IPO here
AVP Infracon will launch its initial public offering (IPO) today (March 13).
The infrastructure construction company’s IPO is an SME IPO which will close for subscription on March 15. Allotment of the IPO will likely be finalised on March 18. Here are top things you need to know about AVP Infracon IPO:
Key dates: The IPO opens for public subscription on March 13 and closes on March 15. Allotment is possible on March 18. Read more: RK Swamy IPO listing today: GMP prediction on share debut, issue details and more details on RK Swamy IPO
Price band: The price band of AVP Infracon IPO has been set at ₹71 to ₹75 per share as the company aims to raise ₹52.34 crore at the upper end of the price band. The issue is entirely fresh and consists of 69.79 lakh equity shares.
Lot size: AVP Infracon IPO’s lot size is 1,600 shares and the minimum investment amount required by retail investors is ₹120,000. Read more: Gopal Snacks IPO closes on March 11: Check GMP, subscription status, price band. Should you apply?
Listing date: The shares will list on the NSE Emerge platform likely on March 20.
Objectives of the IPO: Through the IPO, AVP Infracon aims to use net proceeds for capital equipment, working capital requirements and general corporate purposes, it said.
Book-running lead manager: Share India Capital Services Private Limited is the book-running lead manager of the AVP Infracon IPO.
Registrar of the IPO: Purva Sharegistry India Pvt Ltd is the registrar of the IPO. Read more: JG Chemicals IPO allotment to be finalised today: How to check status online
IPO details: In the offer, the company has reserved 50% of the shares for Qualified Institutional Bidders (QIB) and 35% of the issue is reserved for retail investors. Remaining 15% has been reserved for Non-Institutional Investors (NII).
Company details: AVP Infracon constructs road projects based on Bill of Quantities (BOQ) and Engineering, Procurement, and Construction (EPC) methods. The company also provides all types of infrastructure development works and bids on construction of roads and other infrastructure. The company has completed over 40 projects worth approximately ₹31,321.03 lakhs till January 2024.
Promoters of the company: D Prasanna and B Venkateshwarlu are the promoters of AVP Infracon.