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| IPO Listing At | BSE SME |
| SME IPO Issue Type | Book Build Issue |
| Total Issue Size | ₹91.10 Cr |
| Reserved for Market Maker | ₹4.56 Cr |
| Net Issue Size | ₹91.10 Cr |
| Fresh Issue | ₹86.53 Cr |
| Face Value | ₹10 Per Equity Share |
| Price Band | ₹133.00-140.00 per share |
| BSE Code | 544516 |
| Registrar | Kfin Technologies Ltd. |
| Lead Managers | GYR Capital Advisors Pvt.Ltd. |
| Allotment Status | |
| DRHP |
| RHP |
| Final Prospectus |
| Anchor List |
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Disclaimer: GMP is sourced from grey market dealers and is indicative only. Always conduct your own due diligence.
* Allotment, Refund, Demat Credit & Listing dates are tentative and subject to change.
Minimum bid: 2,000 shares · Multiples of 1,000 shares
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-Kanpur Metro, RRTS, Vistadome Coaches, and Train-18 Vande Bharat Express.
They are a key supplier to Indian Railways, manufacturing high-precision components and turnkey interior furnishings for rolling stock. They also serve the aerospace and defense sectors, making components for projects like AMCA ground simulators and artillery tank bodies.
The company offers turnkey interior furnishing projects for prestigious railway projects, such as the Vande Bharat Express and the Agra-Kanpur Metro.
They extend their expertise to the aerospace and defence sectors, manufacturing components for projects like AMCA ground simulators.
They are an ISO 9001:2015, EN 15085-2, and BMS-certified company, signifying their commitment to quality management and railway standards.
The company contribute to its appeal by supplying the following key components:
As of July 31, 2025, the Company’s workforce comprised 281 employees (including those on contract), including the senior management team.
Competitive Strength
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Capital expenditure towards purchase of machinery and equipmen | 13.68 |
| 2 | Repayment of a portion of certain outstanding borrowing availed by the company | 6.00 |
| 3 | Funding working capital requirements of the Company | 59.27 |
| 4 | General Corporate Purposes | 9.90 |
| 5 | Issue Expenses | 2.24 |
| Total | 91.09 |
| Period Ended | 31 Mar 2025 |
|---|---|
| Assets | 256.94 |
| Total Income | 192.66 |
| Profit After Tax | 25.55 |
| EBITDA | 47.41 |
| NET Worth | 110.80 |
| Reserves and Surplus | 93.34 |
| Total Borrowing | 59.98 |
| Amount in ₹ Crore | |
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 30.64% |
| ROCE | 26.28% |
| Debt / Equity | 0.54% |
| RoNW | 23.06% |
| PAT Margin | 13.28% |
| EBITDA Margin | 24.61% |
| Price to Book Value | 2.19 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 14.63 | 10.66 |
| P/E (x) | 9.57 | 13.14 |
| Promoter Holding | 74.4% | 54.2% |
| Market Cap | ₹335.58 Cr. | |
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Manager Fees. | 0.40 |
| 2 | Underwriting Fees | 0.91 |
| 3 | Fees payable to the Market maker to the Issue | 0.04 |
| 4 | Fees payable to the Registrar to the Issue | 0.05 |
| 5 | Fees payable for Advertising and Publishing Expense | 0.17 |
| 6 | Fees payable to Regulators including Stock Exchange & Depositories | 0.21 |
| 7 | Payment for Printing & Stationary, Postage etc. | 0.00 |
| 8 | Fees payable to statutory auditors, Legal Advisors & other Professionals | 0.21 |
| 9 | Other Expense | 0.26 |
Last Updated on 22-Sep-2025 09:39:41
