Airfloa Rail Technology IPO GMP Soars Ahead Of Allotment: Check Date, Steps To Check Status And More

The initial public offering (IPO) of Airfloa Rail Technology Ltd. saw strong demand on the final day of bidding on Monday. The BSE SME issue saw an overall subscription of 281.04 times, with bids for 1,30,82,50,000 shares, compared to 46,55,000 shares on offer.

The retail portion of the Airfloa Rail Technology IPO was booked 331.48 times, while the Non-Institutional Investors’ (NIIs) segment was oversubscribed nearly 259.42 times. The Qualified Institutional Buyers (QIBs) booked their quota 214.65 times.

The Airfloa Rail Technology IPO was a book-building issue worth Rs 91.1 crore. The SME issue consisted entirely of fresh issuance of 65 lakh shares. The price band for the IPO was fixed at Rs 140 per share.

GYR Capital Advisors Pvt. is the lead manager for the IPO, while KFin Technologies Ltd. is the registrar. Giriraj Stock Broking Pvt. is the market maker.

Following the robust subscription, the Airfloa Rail Technology IPO share allotment status is expected to be finalised on Tuesday, Sept. 16. Refunds for unsuccessful applicants are expected to be initiated the next day, on Sept. 17. The company is also expected to transfer shares to the Demat accounts of allottees the same day.

Airfloa Rail Technology IPO listing date has been tentatively fixed as Sept. 18. Shares of the company will be listed on the BSE SME platform.

Ahead of the allotment, the grey market premium for the Airfloa Rail Technology IPO has soared on back of strong subscription numbers. The current GMP trends suggest a stellar debut for the stock when it lists on the markets this week.

The GMP for the Airfloa Rail Technology SME IPO was Rs 175 per share on September 16. The latest grey market premium indicates an estimated listing price of Rs 315 per share, at a premium of 125% per share against the upper limit of the IPO price band.

The latest GMP of Rs 175 is also the highest that the SME IPO has seen so far. The GMP for the public issue was Rs 166 when the IPO opened for subscription on September 11.

Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.

Following the robust subscription, the Airfloa Rail Technology IPO share allotment status is expected to be finalised on Tuesday, September 16. Refunds for unsuccessful applicants are expected to be initiated the next day, on September 17. The company is also expected to transfer shares to the Demat accounts of allottees on the same day.

Investors who applied for the IPO shares can check their allotment status through the websites of the BSE and the issue registrar, KFin Technologies.

• Go to the BSE IPO allotment page here - https://www.bseindia.com/investors/appli_check.aspx.  

• Select Equity in the ‘Issue Type’ field.

• From the ‘Issue Name’ dropdown, choose "Airfloa Rail Technology Ltd."

• Enter either your Application Number or PAN.

• Complete the Captcha as shown.

• Hit the ‘Search’ button to see your IPO allotment results.

• Visit the KFinTech IPO allotment page here - https://ipostatus.kfintech.com/.

• From the IPO Name dropdown, pick "Airfloa Rail Technology Ltd."

• Select any of these options for verification: PAN, application number, or DP ID/Client ID.

• Provide the information requested based on your chosen method.

• Click Submit to see your IPO allotment status.

Airfloa Rail Technology IPO listing date has been tentatively fixed as September 18. Shares of the company will be listed on the BSE SME platform.

Airfloa Rail Technology Ltd., founded in December 1998, manufactures rolling stock components and interiors for Indian Railways. The company also produces complex parts for aerospace and defence. It has contributed to projects like the Vande Bharat Express, Agra-Kanpur Metro, RRTS and Sri Lankan DEMU coaches. As a supplier, the company delivers high-precision components and turnkey interior solutions for both rail and defence sectors.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.