Afcons Infrastructure's IPO allotment is scheduled for October 30, after a successful share sale of Rs 5,430 crore that was oversubscribed by 2.63 times.

The retail portion of the IPO received a subscription rate of 94 percent, indicating that Retail Individual Investors (RII) are likely to receive shares. However, it is possible that the final allocation for RII may be lower due to potential application rejections and processing issues.

The company plans to use Rs 80 crore from the fresh issue proceeds to acquire construction equipment. The IPO garnered Rs 1,621 crore from anchor investors, with the share price range set between Rs 440 and Rs 463.

This development is significant for Afcons Infrastructure, which is the flagship infrastructure engineering and construction firm of the Shapoorji Pallonji Group.