Airfloa Rail Technology Listing Today: Check Expected Listing Price Based On Latest GMP
According to the grey market premium trends, shares of Airfloa Rail Technology are expected to list at a hefty premium despite a drop of Rs 25 in the last couple of days.
Airfloa Rail Technology IPO closed with a strong subscription on the last day of bidding on September 15. The IPO investors are now keeping a close watch on the grey market premium (GMP) of the BSE SME issue ahead of listing today.
The IPO share allotment status was finalised by the company on September 16. Airfloa Rail Technology completed the initiation of refunds for non-allottees and transfer of shares to the Demat accounts of successful bidders on September 17.
Shares of Airfloa Rail Technology Ltd. are tentatively scheduled to be listed on the BSE SME platform on September 18.
Airfloa Rail Technology IPO was a book-building issue, comprising entirely a fresh issuance of 65 lakh shares. The IPO price band was fixed at Rs 133 to Rs 140 per share.
The Rs 91.1-crore SME issue was overall subscribed 301.52 times during the three-day bidding period from Sept. 11 to Sept. 15. The IPO attracted nearly 130.53 crore shares against 43.29 lakh shares on offer. The Qualified Institutional Buyers’ (QIBs) category was booked nearly 215 times. The Non-Institutional Investors (NIIs) subscribed their segment nearly 350 times, while the retail portion was booked over 330 times.
Ahead of the market debut of Airfloa Rail Technology Ltd., here’s a look atthe latest GMP for the IPO and potential listing price of shares.
Airfloa Rail Technology IPO: Latest GMP
The latest grey market premium for Airfloa Rail Technology IPO was Rs 150 per share at 8:00 a.m. on September 18. Compared to the upper limit of the IPO price band of Rs 140 per share, the latest GMP signals an estimated listing price of Rs 290 apiece. The latest GMP for Airfloa Rail Technology IPO indicates listing of shares at a premium of 107.14%.
However, since the end of the subscription, the GMP for the SME IPO has dropped by Rs 25 from Rs 175 to Rs 150 in the last two days.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Use Of Proceeds
Airfloa Rail Technology has proposed to utilise the IPO funds for capital expenditure towards the purchase of machinery and equipment, repayment of a portion of outstanding debts and working capital needs. A portion of the IPO proceeds will also be used for general corporate purposes.
About
Airfloa Rail Technology Ltd., incorporated in December 1998, is a manufacturer of components for Indian Railways' rolling stock. It operates through production units like the Integral Coach Factory (ICF) and other coach factories. It also manufactures crucial parts for the aerospace and defence sectors. The company has made rolling stock components and managed interior projects for Sri Lankan DEMU, Mainline Coaches, Agra-Kanpur Metro, RRTS, Vistadome Coaches and Vande Bharat Express trains.
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.
