Afcons Infrastructure's IPO has concluded with a total subscription of 2.63 times. However, the retail portion was undersubscribed at 94%. Analysts predict a negative listing for Afcons shares, which could present a buying opportunity for long-term investors.
The company plans to allocate Rs 80 crore from the fresh issue proceeds towards acquiring construction equipment. Afcons has a strong presence in both Indian and international markets, but the weak subscription rates suggest investor caution.