Airfloa Rail Technology IPO, Day 2: Check GMP, Subscription Status, Price Band And More
The initial public offering of Airfloa Rail Technology SME IPO will remain open for subscription till September 15.
Airfloa Rail Technology Ltd., which launched its initial public offering (IPO) on Thursday, was booked 22 times on Day 1.
The company manufactures components for Indian Railways’ rolling stock through units such as the Integral Coach Factory (ICF) and other coach factories.
Here’s a look at the grey market premium (GMP), day 2 subscription status and other important details about the Airfloa Rail Technology IPO.
Airfloa Rail Technology IPO GMP Today
The latest GMP for Airfloa Rail Technology IPO stood at Rs 166 per share on September 12. Considering the upper end of the price band of Rs 140, the IPO’s estimated listing price stands at Rs 306 (cap price + today’s GMP), reflecting an expected listing gain of 118.57% per share.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Airfloa Rail Technology IPO Day 2 Subscription Status
The IPO was booked 31.72 times as of 11:00 a.m. on Friday
Qualified Institutional Buyers: 0.04 times
Non-Institutional Investors: 28.45 times
Retail Investors: 51.69 times
*The subscription status will be updated at regular intervals.
Airfloa Rail Technology IPO Key Details
Airfloa Rail Technology IPO is a book-building issue worth Rs 91.1 crore, consisting entirely of a fresh issuance of 65 lakh shares.
The price band for the Airfloa Rail Technology IPO has been fixed at Rs 133 to Rs 140 per share. The IPO lot size comprises 1,000 shares. For retail investors, the minimum investment at the upper price band works out to Rs 2.8 lakh, for at least 2,000 shares. High Net-worth Individuals (HNIs) are required to bid for at least three lots, or 3,000 shares, translating to a minimum investment of Rs 4.20 lakh.
The subscription window for the Airfloa Rail Technology IPO will close on September 15. The tentative date for allotment of shares is September 16. The company will initiate refunds and credit of shares to demat accounts on September. 17.
Airfloa Rail Technology shares are tentatively scheduled to be listed on the BSE SME platform on September 18.
GYR Capital Advisors Pvt. is the book-running lead manager, while Kfin Technologies Ltd. has been appointed registrar. The issue’s market maker is Giriraj Stock Broking Pvt.
Airfloa Rail Technology: Business And Financials
Airfloa Rail Technology Ltd., founded in December 1998, manufactures rolling stock components and turnkey interiors for Indian Railways. It has delivered components and interior projects for a wide range of systems, including Sri Lankan DEMU, Mainline Coaches, Agra-Kanpur Metro, RRTS, Vistadome Coaches and the Vande Bharat Express. The company also supplies precision parts to aerospace and defence, including AMCA ground simulators and artillery tank bodies.
Use Of Proceeds
Airfloa Rail Technology Ltd. will use the net proceeds from the IPO for capital expenditure on machinery and equipment. A portion will be allocated toward repaying debt and meeting working capital requirements. A part of the proceeds will also be used for general corporate purposes.
Financials
According to the company’s draft red herring prospectus (DRHP), Airfloa Rail Technology reported revenue from operations of Rs 119.3 crore for the year ended March 31, 2024, compared to Rs 95.17 crore in the previous financial year. Its net profit for the year stood at Rs 14.23 crore in FY24, against Rs 1.49 crore in FY23.
In FY25, the company’s total income stood at Rs 192.66 crore, with a net profit of Rs 25.55 crore.
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.
