Shapoorji Pallonji Group’s Afcons Infra IPO receives 10 pc subscription on Day 1 of offer

Afcons Infrastructure Ltd’s IPO saw a 10% subscription on the first day, with significant interest from retail and non-institutional investors. The Rs 5,430-crore IPO, open until October 29, combines a fresh issue and an offer for sale, with proceeds aimed at buying equipment, working capital, and debt repayment.