Afcons Infrastructure, a well-known construction firm, has recently launched its Initial Public Offering (IPO).

The IPO includes both an offer for sale and a primary fundraise, which reflects the company's strong financial strategy.

Afcons has a proven track record in successfully executing large and complex projects, supported by a diverse order book.

The company's recent quarterly performance has been boosted by improved realizations, and it is expected to benefit from medium-term triggers such as the "China plus" strategy and protectionist measures in the tyre industry.

Although the valuations may not be considered cheap, the medium-term outlook appears promising.

It is important to note that the promoter entity has a significant amount of debt, which potential investors should take into consideration.