Afcons Infrastructure IPO vs Northern Arc Capital IPO

Comparision between Afcons Infrastructure IPO and Northern Arc Capital IPO.

IPO Details

Afcons Infrastructure IPO is a Mainline Book Built Issue IPO proposed to list at BSE, NSE while Northern Arc Capital IPO is a Mainline Book Built Issue proposed to list at BSE, NSE.

	Afcons Infrastructure IPO	Northern Arc Capital IPO
Logo
Issue Category	Mainline	Mainline
Issue Type	IPO	IPO
Process Type	Book Built Issue	Book Built Issue
Listing At	BSE, NSE	BSE, NSE
Lead Managers	ICICI Securities Limited Dam Capital Advisors Ltd (Formerly Idfc Securities Ltd) Jefferies India Private Limited Nomura Financial Advisory And Securities (India) Pvt Ltd Nuvama Wealth Management Limited SBI Capital Markets Limited	ICICI Securities Limited Axis Bank Limited Citigroup Global Markets India Private Limited
Registrar	Link Intime India Private Ltd	Kfin Technologies Limited
Market Maker
DRHP	DRHP	DRHP
RHP	RHP	RHP
Anchor Investor	Anchor Investor	Anchor Investor
IPO Allotment URL	IPO Allotment URL	IPO Allotment URL

Issue Size and Price

The total issue size of Afcons Infrastructure IPO is up to ₹5,430.00 Cr whereas the issue size of the Northern Arc Capital IPO is up to ₹777.00 Cr. The final issue price of Afcons Infrastructure IPO is ₹463.00 per share and of Northern Arc Capital IPO is ₹263.00 per share.

	Afcons Infrastructure IPO	Northern Arc Capital IPO
Face Value	₹10 per share	₹10 per share
Issue Price (Lower)	₹440.00 per share	₹249.00 per share
Issue Price (Upper)	₹463.00 per share	₹263.00 per share
Issue Price (Final)	₹463.00 per share	₹263.00 per share
Discount (Retail)
Discount (Employee)	₹44.00 per share	₹24.00 per share
Market Lot Size	32 shares	57 shares
Fresh Issue Size	2,69,97,840 shares	1,90,11,407 shares
Fresh Issue Size (Amount)	up to ₹1,250.00 Cr	up to ₹500.00 Cr
OFS Issue Size	9,02,80,778 shares	1,05,32,320 shares
OFS Issue Size (Amount)	up to ₹4,180.00 Cr	up to ₹277.00 Cr
Issue Size Total	11,72,78,618 shares	2,95,43,727 shares
Issue Size Total (Amount)	up to ₹5,430.00 Cr	up to ₹777.00 Cr

IPO Timetable

Afcons Infrastructure IPO opens on Oct 25, 2024, while Northern Arc Capital IPO opens on Sep 16, 2024. The closing date of Afcons Infrastructure IPO and Northern Arc Capital IPO is Oct 29, 2024, and Sep 19, 2024, respectively.

	Afcons Infrastructure IPO	Northern Arc Capital IPO
Anchor Bid Date	Oct 24, 2024	Sep 13, 2024
Issue Open	Oct 25, 2024	Sep 16, 2024
Issue Close	Oct 29, 2024	Sep 19, 2024
Basis Of Allotment (Tentative)	Oct 30, 2024	Sep 20, 2024
Initiation of Refunds (Tentative)	Oct 31, 2024	Sep 23, 2024
Credit of Share (Tentative)	Oct 31, 2024	Sep 23, 2024
Listing date (Tentative)	Nov 04, 2024	Sep 24, 2024
Anchor Lockin End date 1	Nov 29, 2024	Oct 19, 2024
Anchor Lockin End date 2	Jan 28, 2025	Dec 18, 2024

Financials

Afcons Infrastructure IPO P/E ratio is 35.08, as compared to Northern Arc Capital IPO P/E ratio of 11.78.

Afcons Infrastructure IPO

Northern Arc Capital IPO

Financial

Afcons Infrastructure Limited Financial Information (Restated Consolidated)

Afcons Infrastructure Limited's revenue increased by 6% and profit after tax (PAT) rose by 9% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	30 Jun 2024	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	17,184.58	16,233.64	14,301.25	12,973.77
Revenue	3,213.47	13,646.88	12,844.09	11,269.55
Profit After Tax	91.59	449.76	410.86	357.61
Net Worth	3,662.25	3,575.05	3,155.06	2,691.03
Reserves and Surplus	3,342.52	3,255.22	2,653.75	2,190.11
Total Borrowing	3,365.1	2,455	1,562.82	1,555.2
Amount in ₹ Crore

Northern Arc Capital Limited Financial Information (Restated Consolidated)

Northern Arc Capital Limited's revenue increased by 45% and profit after tax (PAT) rose by 31% between the financial year ending with March 31, 2024 and March 31, 2023.

Period Ended	31 Mar 2024	31 Mar 2023	31 Mar 2022
Assets	11,707.66	9,371.57	7,974.12
Revenue	1,906.03	1,311.2	916.55
Profit After Tax	317.69	242.21	181.94
Net Worth	2,314.35	1,955.39	1,739.04
Reserves and Surplus	2,123.37	1,784.22	1,555.3
Total Borrowing	9,047.76	7,034.57	5,982.96
Amount in ₹ Crore

Promoter Shareholding (Pre-Issue)

99.48%

Promoter Shareholding (Post-Issue)

67.16%

P/E Ratio

35.08

11.78

Market Cap

₹17026.18 Cr.

₹4242.86 Cr.

ROE

10.55%%

ROCE

14.89%%

Debt/Equity

0.91

3.9

EPS

₹13.20

₹22.32

RoNW

2.50%%

13.32%%

Shares Offered

In the Afcons Infrastructure IPO retail investors (RII) are offered 4,08,58,531 shares while in Northern Arc Capital IPO retail investors are offered 4,08,58,531 shares. Qualified institutional buyers (QIB) are offered 2,33,47,732 shares in Afcons Infrastructure IPO and 58,01,354 shares in Northern Arc Capital IPO.

	Afcons Infrastructure IPO	Northern Arc Capital IPO
Anchor Investor Reserveration	3,50,21,597 shares	87,02,031 shares
Market Maker Reserveration
QIB	2,33,47,732 shares	58,01,354 shares
NII	1,75,10,799 shares	43,51,016 shares
RII	4,08,58,531 shares	1,01,52,384 shares
Employee	5,96,659 shares	0 shares
Others
Total	8,23,13,721 shares	2,03,04,754 shares

Bids Received (Subscription)

Afcons Infrastructure IPO subscribed 2.77x in total, whereas Northern Arc Capital IPO subscribed 117.19x.

	Afcons Infrastructure IPO	Northern Arc Capital IPO
QIB (times)	3.99x	242.73x
NII (times)	5.31x	147.58x
Big NII (times)	6.63x	160.48x
Small NII (times)	2.67x	121.79x
RII (times)	0.99x	32.01x
Employee (times)	1.77x
Other (times)
Total (times)	2.77x	117.19x

Compare with others

Afcons Infrastructure IPO	Northern Arc Capital IPO
Swiggy IPO	Afcons Infrastructure IPO
Godavari Biorefineries IPO	Hyundai Motor IPO
Deepak Builders & Engineers IPO	Diffusion Engineers IPO
Waaree Energies IPO	Manba Finance IPO
Garuda Construction and Engineering IPO	KRN Heat Exchanger IPO
Hyundai Motor IPO	Arkade Developers IPO
Diffusion Engineers IPO	Western Carriers (India) IPO
Manba Finance IPO	P N Gadgil Jewellers IPO
KRN Heat Exchanger IPO	Kross IPO
Northern Arc Capital IPO	Tolins Tyres IPO

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