Fri Oct 25 12:10:00 UTC 2024: **IPO Review Summary:**

1. **Current IPOs:**
– **Godavari Biorefineries**: IPO closes today, October 25, and is nearly fully subscribed, primarily by retail investors.
– **Afcons Infrastructure**: IPO opened today and will remain available for subscription until October 29.

2. **Market Context:**
– Both IPOs are debuting in a sluggish market, leading to a slow start for investors.

3. **Afcons Infrastructure Details:**
– Size: ₹5,430 crore; includes ₹1,250 crore in new shares and an offer for sale (OFS) of ₹4,180 crore.
– Planned Use of Proceeds: ₹80 crore for machinery, ₹320 crore for working capital, ₹600 crore for debt repayment, and remaining for corporate purposes.
– Price Band: ₹440-463.
– Notable Projects: Renowned for successful completion of challenging engineering projects, including the Atal Tunnel and Chenab river railway bridge.

4. **Godavari Biorefineries Details:**
– Size: ₹555 crore; includes ₹325 crore in new shares and an OFS worth ₹230 crore.
– Planned Use of Proceeds: ₹240 crore for debt repayment; remaining for corporate purposes.
– Price Range: ₹334-352 per share.
– Business Focus: Diverse offerings like bio-based chemicals and ethanol, but lacks any dominant segment.

5. **Expert Insights:**
– **Arun Kejriwal**: Emphasizes that these IPOs are not directly comparable due to differing scales and business types; recommends Afcons for its established track record and robust financials.
– **Rajan Shinde**: Highlights Afcons’ operational excellence, strong client partnerships, and potential for long-term revenue growth, recommending a “SUBSCRIBE” for Afcons Infrastructure.

6. **Investment Advice:**
– Investors are encouraged to seek certified financial advice before making decisions based on these insights.

This summary condenses key points from the IPO review article and highlights the main features and expert opinions regarding the two companies.

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