The issue is completely a fresh equity sale of 91.1 lakh shares and the company is planning to raise around Rs 91 crore from this.
Rarely was an SME IPO this year that commanded a GMP over 100%. This was because of the listing cap introduced by the exchanges a few months ago. It should be noted that the GMP is only an indicator of the demand the IPO may generate and not an accurate picture of the company’s business model or its strengths and pitfalls.
Airfloa Rail Technology IPO price band
Airfloa Rail has priced its IPO in the range of Rs 133-140 per share, where investors can bid for 1,000 shares in one lot. In the public offer, about 47% is reserved for
Company overview
The company is engaged in the manufacturing of components which are used in the rolling stock for the Indian Railways through railway production units like integral coach factory (ICF), other coach factories. In addition to manufacturing the rolling stock components, it also carries out turnkey interior furnishing projects for Indian Railways.In the aerospace and defence sectors, the company makes intricate, highly engineered, and vital components. Along with Indian Railways through ICF and other coach factories, it also serves other rails factories, and global rolling stock OEMs.
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Airfloa has manufactured rolling stock components and implemented turnkey interior furnishing projects for Sri Lankan DEMU and Mainline Export Coaches, Agra-Kanpur Metro Coach, RRTS Coach, Vistadome Coach and Train-18 Vande Bharat Express.
Financials
The company is also boasting healthy financials. For the year ended March 2025, the net profit stood at Rs 25.54 crore, while revenue from operations came in at Rs 192 crore.
Net proceeds from the IPO will be used for capital expenditure towards purchase of machinery and equipment up to Rs 13 crore, repayment of a portion of certain outstanding borrowing availed by the company, funding of working capital requirements and other general corporate purposes.
GYR Capital Advisors is acting as the book running lead manager and Kfin Technologies is the registrar for the IPO. The market maker of the company is Giriraj Stock Broking.
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