Airfloa Rail Technology Limited IPO

Airfloa Rail Technology Limited IPO

SME BSE SME 100% Book Built Offer
Closed

Price Band

₹133 - ₹140

Total Issue

₹91.10 Cr

Bid Dates

11 Sep - 15 Sep

Subscription

281.04x

Est. GMP

₹175 (125.00%)

Website RHP Check Allotment

Tentative Timetable

Open
Close
Allotment
Refunds
Credit
Listing

Business Overview

AirFloa Rail Technology is engaged in the manufacturing of components for rolling stock used by Indian Railways through production units such as the Integral Coach Factory (ICF) and other coach factories. In addition to rolling stock components, the company undertakes turnkey interior furnishing projects for Indian Railways and supplies to global rolling stock OEMs. It also manufactures intricate and highly engineered components for the aerospace and defence sectors. AirFloa Rail Technology has contributed to projects such as Sri Lankan DEMU and Mainline Export Coaches, Agra-Kanpur Metro Coach, RRTS Coach, Vistadome Coach, and the Train-18 Vande Bharat Express.

Lot Info

Lot Information for Airfloa Rail Technology IPO
Category Lots Shares Amount
Individual (Min) 2 2,000 ₹2,80,000
Individual (Max) 2 2,000 ₹2,80,000
S-HNI (Min) 3 3,000 ₹4,20,000
S-HNI (Max) 7 7,000 ₹9,80,000
B-HNI (Min) 8 8,000 ₹11,20,000
Market Maker
3,26,000 EQ Shs
Employee
₹0.00
Shareholder
₹0.00

Issue Size

Total ₹91.10 Cr
Fresh Issue
₹91.10 Cr (0.65 Cr Shares)
Offer For Sale
₹0.00 (0.00 Shares)

Objects of the Issue

A1

₹B1 Cr

A2

₹B2 Cr

A3

₹B3 Cr

Grey Market Premium

GMP ₹175
Est. Price ₹315
Est. Gain 125.00%

Airfloa Rail Technology IPO Peer Comparison

(Rs. in crores)

Airfloa Rail Technology IPO Peer Comparison Table
Particulars Airfloa Jupiter Wagons Titagarh Rail
Revenue from Ops (in Crs.) 192.39 3,963.28 3,867.75
PAT (In Crs.) 25.55 380.27 274.92
EPS - Basic 15.63 9.08 20.39
NAV per share 63.81 64.88 184.40
RONW 23.06% 13.81% 11.07%
EBITDA 24.61% 15.52% 12.89%
PAT Margin 13.28% 9.59% 7.11%
Price to earning (PE) 8.96 37.80 41.94
Debt to Equity 0.54 0.18 0.25

All information pertains to FY 2024-25. PE ratio is calculated using the Upper Price Band for the Issuer and the closing price as of August 21, 2025 for Peers

Financial Performance

(Rs. in crores)

Financial Performance Metrics for Airfloa Rail Technology IPO
Particulars Mar-25 Mar-24 Mar-23
Revenue from Operations 192.39 119.30 95.17
Profit after Tax 25.55 14.23 1.49
Net Worth 110.80 55.98 41.75
Total Borrowing 59.98 63.80 60.22
Total Assets 256.94 201.99 163.89
NAV per share (in ₹) 63.81 37.36 27.86
EPS - Basic (in ₹) 15.63 9.50 1.00

KPIs

EBITDA

24.61%

PAT

13.28%

ROE

30.64%

ROCE

26.28%

Debt to Equity

0.54

PE Ratio

8.96

PB Ratio

2.19

Mkt Cap (in Crs.)

335.58

All the data pertains to FY 2024-25. PE, PB, and market capitalization are calculated based on the Upper Price Band.

Shareholding

Promoter

74.40%

Public

25.60%

Manikandan Moorthy 37.20%
Venkatesan Moorthy 37.20%

Management

Venkatesan Moorthy Chairman & MD
Manikandan Moorthy Jt. MD
P S Karunakaran CFO

Registrar & Lead Managers

Registrar

KFin Technologies

KFin Technologies

Lead Managers (1)

GYR Capital GYR Capital

Subscription Status

Updated as on 15 Sep 2025 | 05:00:00 PM

BSE SME Subscription Status for Airfloa Rail Technology IPO
Category Sub (x) Offered Bids
QIB 214.65x 12,35,000 26,50,93,000
NII 350.00x 9,30,000 32,55,01,000
bHNI 375.79x 6,20,000 23,29,90,000
sHNI 298.42x 3,10,000 9,25,11,000
Individual Investor 331.48x 21,64,000 71,73,30,000
Total 302.13x 43,29,000 1,30,79,24,000

Frequently Asked Questions

What is Airfloa Rail Technology IPO?
Airfloa Rail Technology IPO is a SME IPO having an issue size of ₹91.10 Crs. Airfloa Rail Technology IPO is priced at ₹133 - ₹140 per share. The issue opens on 11 Sep 25 and closes on 15 Sep 25.
When will Airfloa Rail Technology IPO open?
Airfloa Rail Technology IPO opens on 11 Sep 25 and closes on 15 Sep 25.
What is the GMP of Airfloa Rail Technology IPO?
The estimated Grey Market Premium of Airfloa Rail Technology IPO is ₹175 per share (125.00%).
What is the lot size of Airfloa Rail Technology IPO?
The minimum lot size of Airfloa Rail Technology IPO is 1000 shares & the minimum application amount is Rs. 140000.
When is the allotment of Airfloa Rail Technology IPO?
The allotment date of Airfloa Rail Technology IPO is 16 Sep 25.
What is the listing date of Airfloa Rail Technology IPO?
The listing date of Airfloa Rail Technology IPO is 18 Sep 25.
What is the subscription of Airfloa Rail Technology IPO?
Airfloa Rail Technology IPO is subscribed 281.04 times.
What is the price band of Airfloa Rail Technology IPO?
Airfloa Rail Technology IPO is priced at ₹133 - ₹140 per share.
How to check allotment status of Airfloa Rail Technology IPO?
Click the allotment link on Airfloa Rail Technology IPO page of IPO360.
How to apply Airfloa Rail Technology IPO in Zerodha?
  1. Go to Kite App → Tap on Bids → Tap on IPO
  2. Select the IPO → Tap on apply → Enter UPI ID
  3. Enter Qty and Price
  4. Submit the application
  5. Approve the UPI Mandate on your UPI app
How to apply Airfloa Rail Technology IPO in Groww?
  1. Go to Groww App → Stocks Section → Select IPO option
  2. Select the IPO you want to apply
  3. Enter your bid details and price
  4. Enter UPI ID & submit
  5. Approve the UPI Mandate on your UPI app
How to apply Airfloa Rail Technology IPO using ASBA?
  1. Log in to your bank's net banking portal.
  2. Navigate to the 'IPO' or 'ASBA' section.
  3. Select Airfloa Rail Technology IPO from the list of available IPOs.
  4. Enter the required details: Bid quantity, Price, DP ID & Client ID, etc
  5. Submit the application.
  6. Money will remain blocked till the refund date