Airfloa Rail Technology IPO Day 3: GMP signals 125% listing gains — Issue booked over 300x. Check details

Airfloa Rail Technology IPO: The initial public offer (IPO) of Airfloa Rail Technology sailed through on the first day of the bidding process on Thursday, September 11, amid a strong grey market premium.

The ₹91 crore SME IPO closed for bidding till September 15, with a bumper demand for the share sale.

Airfloa Rail Technology IPO Subscription

As of 5 pm on Monday, Day 3, Airfloa Rail Technology IPO was booked 301.52 times, as the issue received bids for 1,30,52,81,000 shares as against 43,29,000 shares on offer.

The retail portion of the Airfloa Rail Technology IPO was booked 330.31 times, the non-institutional investor (NII) part was subscribed 349.88 times, while the bidding for the qualified institutional buyer (QIB) segment was 214.65 times.

Airfloa Rail Technology IPO GMP

The company enjoyed a strong GMP. Airfloa Rail Technology IPO GMP today is ₹175. This means that Airfloa Rail Technology's share price is trading ₹175 above the issue price in the grey market.

At the prevailing GMP and issue price, Airfloa Rail Technology IPO could list at ₹315, a premium of 125% over the upper end of the price band at ₹140.

About Airfloa Rail Technology IPO

Airfloa Rail Technology IPO, priced at ₹133 to ₹140, is entirely a fresh issue of 0.65 crore shares. Investors can apply for the IPO in lots of 1,000 shares, with the retail investors required to bid for at least two lots. As a result, the minimum invested by retail investors is ₹2,80,000 at the upper end of the issue price.

The company plans to use the funds raised for capex, such as the purchase of machinery and equipment. It also looks to pay certain borrowings from funds raised, and fund working capital needs and other general corporate purposes.

The allotment for Airfloa Rail Technology IPO is expected to be finalised on September 16. Meanwhile, the listing for Airfloa Rail Technology IPO is slated for September 18 on BSE SME.

GYR Capital Advisors is the book-running lead manager, and KFin Technologies is the registrar of the issue.

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, it manufactures intricate, highly engineered, and vital components.

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