Airfloa Rail Technology IPO
Airfloa Rail Technology IPO
Overview
Airfloa Rail Technology IPO is a book build issue of ₹91.10 crores. The issue is entirely a fresh issue of 0.65 crore shares of ₹91.10 crore. Airfloa Rail Technology IPO opens for subscription on Sep 11, 2025 and closes on Sep 15, 2025. The allotment for the Airfloa Rail Technology IPO is expected to be finalized on Sep 16, 2025. Airfloa Rail Technology IPO will list on BSE SME with a tentative listing date fixed as Sep 18, 2025. Airfloa Rail Technology IPO price band is set at ₹133.00 to ₹140.00 per share . The lot size for an application is 1,000. The minimum amount of investment required by an individual investor (retail) is ₹2,80,000.00 (2,000 shares) (based on upper price). The minimum lot size investment for HNI is 3 lots (3,000 shares), amounting to ₹4,20,000. GYR Capital Advisors Pvt.Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
Total Shares
65,07,000
Issue Size
₹91.10 Cr
Price Band
₹133 – ₹140
Lot Size
1000 shares
Min. Investment
₹2,80,000
Max. Investment
₹2,80,000
Open Date
11 Sep, 2025
Close Date
15 Sep, 2025
Allotment
16 Sep, 2025
Listing
18 Sep, 2025
Max. Investment
₹2,80,000
Announced
11 Sep, 2025
Opening Date
11 Sep, 2025
Closing Date
15 Sep, 2025
Basis of Allotment
16 Sep, 2025
Initiation of Refunds
17 Sep, 2025
Credit of Shares
17 Sep, 2025
Listing Date
18 Sep, 2025
Live GMP
Est. Listing: ₹315
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About Airfloa Rail Technology IPO
Incorporated in December 1998, Airfloa Rail Technology Limited manufactures components for Indian Railways' rolling stock through production units like the Integral Coach Factory (ICF) and other coach factories.
The company manufactures rolling stock components and interior projects for Indian Railways and produces complex, crucial parts for aerospace and defence.
The company made rolling stock parts and managed interior projects for Sri Lankan DEMU, Mainline Coaches, Agra-Ka
Airfloa Rail Technology IPO Share Price
Issue Breakdown
Shareholding
Dilution: 37.3% increase in shares
Airfloa Rail Technology IPO Promoters Holding
Airfloa Rail Technology IPO Financial Health
Airfloa Rail Technology IPO Lot Size
Investors can bid for a minimum of 2,000 shares and in multiples of 1,000 shares thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Individual investors (Retail) (Min) | 2 | 2000 | ₹2,80,000 |
| Individual investors (Retail) (Max) | 2 | 2000 | ₹2,80,000 |
| S-HNI (Min) | 3 | 3000 | ₹4,20,000 |
| S-HNI (Max) | 7 | 7000 | ₹9,80,000 |
| B-HNI (Min) | 8 | 8000 | ₹11,20,000 |
(All values in CR)
Airfloa Rail Technology IPO Valuations
The market capitalization of Airfloa Rail Technology IPO is ₹335.58 Cr. KPI as of Mon, Mar 31, 2025.
| Metric | Value |
|---|---|
| ROCE | 26.28 |
| Debt/Equity | 0.54 |
| RoNW | 30.64 |
| PAT Margin | 13.28 |
| EBITDA Margin | 24.61 |
| Price to Book Value | 3.75 |
(All values in CR)
Airfloa Rail Technology IPO Strength & Risk
Airfloa Rail Technology IPO Strength:
Prestigious projects with Indian Railways, metro systems, and defense/aerospace sector.
Strong certifications ensuring global quality compliance.
Healthy order backlog providing good revenue visibility.
Significant improvement in profitability in recent years.
Experienced management with long industry expertise.
Airfloa Rail Technology IPO Risk:
High debt levels creating financial pressure.
SME platform listing may lead to lower liquidity and higher volatility.
Heavy dependence on Indian Railways for major revenue.
Execution challenges in diversifying into aerospace and defense.
Short track record of consistent profitability.
Airfloa Rail Technology IPO Subscriptions Status
Airfloa Rail Technology IPO subscribed 296.73 times. The public issue subscribed 321.36 times in the individual investors category, 214.64 times in QIB (Ex Anchor), and 348.42 times in the NII category by September 15, 2025 3:44:35 PM (Day 3).
| Investor Category | Subscription (times) | Shares Offered | Shares bid for | Total Amount (Rs Cr.) |
|---|---|---|---|---|
| Anchor | 1.00 | 18,52,000 | 18,52,000 | 25.93 |
| Market Maker | 1.00 | 3,26,000 | 3,26,000 | 4.56 |
| QIB (Ex Anchor) | 214.64 | 12,35,000 | 26,50,85,000 | 3 |
| Non-Institutional Buyers | 348.42 | 9,30,000 | 32,40,32,000 | 4 |
| bNII (bids above ₹10L) | 375.38 | 6,20,000 | 23,27,37,000 | 3 |
| sNII (bids below ₹10L) | 294.50 | 3,10,000 | 9,12,95,000 | 1 |
| Individual Investors (IND category bidding for 2 Lots) | 321.36 | 21,64,000 | 69,54,22,000 | 9 |
| Total | 296.73 | 43,29,000 | 1,28,45,39,000 | 17 |
Airfloa Rail Technology IPO GMP
Airfloa Rail Technology SME IPO last GMP is ₹175, last updated Sep 15th 2025 02:35 PM. With the price band of 140.00, Airfloa Rail Technology SME IPO's estimated listing price is ₹315 (cap price + today's GMP).The expected percentage gain/loss per share is 125.00%. >> Airfloa Rail Technology SME IPO Retail Subject to Sauda: ₹133000 The lowest GMP is ₹150.00, while the highest GMP is ₹175.00.
Last updated 15 Sep, 2025 · Source: aggregated grey-market dealers
| Date | IPO Price | GMP | Sub2 Sauda | Est. Listing | Est. Profit | Updated |
|---|---|---|---|---|---|---|
| 15 Sep, 2025 | 140 | ₹175▲ | 133000 | ₹315 (125.00%) | 175000 | 15 Sep, 2025 |
| 14 Sep, 2025 | 140 | ₹166 | 126200 | ₹306 (118.57%) | 166000 | 14 Sep, 2025 |
| 13 Sep, 2025 | 142 | ₹166 | 126200 | ₹306 (118.57%) | 166000 | 13 Sep, 2025 |
| 12 Sep, 2025 | 140 | ₹166 | 126200 | ₹306 (118.57%) | 166000 | 12 Sep, 2025 |
| 11 Sep, 2025 | 140 | ₹166▲ | 126200 | ₹306 (118.57%) | 166000 | 11 Sep, 2025 |
| 10 Sep, 2025 | 140 | ₹165▼ | 125400 | ₹305 (117.86%) | 165000 | 10 Sep, 2025 |
| 09 Sep, 2025 | 140 | ₹170▲ | 129200 | ₹310 (121.43%) | 170000 | 09 Sep, 2025 |
| 08 Sep, 2025 | 140 | ₹160▲ | 121600 | ₹300 (114.29%) | 160000 | 08 Sep, 2025 |
| 07 Sep, 2025 | 140 | ₹150 | 114000 | ₹290 (107.14%) | 150000 | 07 Sep, 2025 |
| 06 Sep, 2025 | 140 | ₹150 | 114000 | ₹290 (107.14%) | 150000 | 06 Sep, 2025 |
| 05 Sep, 2025 | 140 | ₹150 | 114000 | ₹290 (107.14%) | 150000 | 05 Sep, 2025 |
| 04 Sep, 2025 | 140 | ₹150 | 114000 | ₹290 (107.14%) | 150000 | 04 Sep, 2025 |
Disclaimer: GMP is an unofficial signal from grey-market dealers and is not regulated by SEBI. Use it alongside subscription data and other research for informed decision-making.
How to Apply for Airfloa Rail Technology IPO
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Find Airfloa Rail Technology IPO under the IPO section. Select it and enter your bid details — choose lot size and price (cut-off price recommended).
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Application Confirmed
Your funds will be blocked in your account until the IPO allotment process is completed.