AVP Infracon Ltd Share Price – NSE

Infrastructure Developers & Operators, Small Cap

AVP Infracon announced that the 15th Annual General Meeting (AGM) of the company will be held on 27 September 2024.

Powered by Capital Market - Live News

AVP Infracon will hold a meeting of the Board of Directors of the Company on 29 May 2024.

Powered by Capital Market - Live News

The scrip was listed at Rs 79, a premium of 5.33% compared with the initial public offer (IPO) price. The stock is currently frozen at a lower limit of 5% over its listing price.

The counter hit a high of Rs 79 and a low of Rs 75.05. About 13.97 lakh shares of the company changed hands at the counter.

AVP Infracon's IPO received was subscribed 13.56 times. The issue opened for bidding on 13 March 2024 and it closed on 15 March 2024. The price band of the IPO was fixed at Rs 71 to 75 per share.

The IPO comprised fresh issue of 69,79,200 equity shares. The promoter and promoter shareholding diluted to 62.32% from 86.5% pre-IPO.

The company intends to utilize the net proceeds for capital expenditure, to meet working capital requirements, to purchase capital equipment, to meet issue related expenses and to meet general corporate purpose.

Ahead of the IPO, AVP Infracon on 12 March 2024, raised Rs 14.02 crore from anchor investors. The board allotted 18.70 lakh shares at Rs 75 per share to 5 anchor investors.

AVP Infracon is a construction company specialising in various infrastructure projects, including highways, bridges, irrigation systems, and buildings (hospitals, warehouses, hotels, etc.). The company has 43 full-time employees (including executive directors) and 85 on-site contractual workers such as engineers, drivers, JCB operators, helpers etc.

The company recorded revenue from operations of Rs 74.05 crore and net profit of Rs 8.55 crore for the period as on 31 October 2023.

Powered by Capital Market - Live News