Airfloa Rail Technology Limited IPO
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.
Price Band₹133 - ₹140 |
Dates11 Sep - 15 Sep |
GMP₹150 (107.14%) |
Subscriptions- |
Issue Size₹91.10 Crs |
Airfloa Rail Technology IPO Objects
- Capital expenditure towards purchase of Machinery and equipment
- Repayment of a portion of certain outstanding borrowing availed by our company
- Funding of the working capital requirement of our Company
- General corporate purposes
Airfloa Rail Technology IPO Details
Price Band₹133 - ₹140 |
Listing AtBSE SME |
IPO Issue Type100% Book Built Offer |
Fresh Issue₹91.10 Cr (0.65 Cr Shares) |
Offer For Sale₹0.00 (0.00 Shares) |
Total Issue₹91.10 Cr (0.65 Cr Shares) |
Face Value₹10 per equity share |
Airfloa Rail Technology IPO Lot Information
| Investor Category | Lot | Shares | Amount | |
|---|---|---|---|---|
| Retail |
Minimum
2
2,000
2,80,000
Maximum
2
2,000
2,80,000
|
|||
| Small HNI |
Minimum
3
3,000
4,20,000
Maximum
7
7,000
9,80,000
|
|||
| Big HNI |
Minimum
8
8,000
11,20,000
|
|||
Airfloa Rail Technology IPO GMP
The estimated Grey Market Premium of Airfloa Rail Technology IPO is ₹150 per share (107.14%)
Disclaimer: The GMP prices displayed here reflect news related to grey market trends. We do not trade or deal in the grey market, including subject-to-rates, nor do we recommend participating in grey market trading.
Category Allocation
| Particulars | Allocation |
|---|---|
| QIB | Not more than 50% of Net Offer |
| NII | Not less than 15% of Net Offer |
| Retail | Not less than 35% of Net Offer |
| Market Maker | 3,26,000 EQ Shs |
Airfloa Rail Technology IPO Financials
| 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 |
The financial information presented is on a consolidated basis.
Key Performance Indicators
| KPI | Values |
|---|---|
| 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.
Airfloa Rail Technology IPO Peer Comparision
| 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
Airfloa Rail Technology IPO Peer Comparision
| Particulars | Airfloa |
|---|---|
| Revenue from Ops (in Crs.) | 192.39 |
| PAT (In Crs.) | 25.55 |
| EPS - Basic | 15.63 |
| NAV per share | 63.81 |
| RONW | 23.06% |
| EBITDA | 24.61% |
| PAT Margin | 13.28% |
| Price to earning (PE) | 8.96 |
| Debt to Equity | 0.54 |
| Jupiter Wagons | Titagarh Rail |
|---|---|
| 3,963.28 | 3,867.75 |
| 380.27 | 274.92 |
| 9.08 | 20.39 |
| 64.88 | 184.40 |
| 13.81% | 11.07% |
| 15.52% | 12.89% |
| 9.59% | 7.11% |
| 37.80 | 41.94 |
| 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
Promoter Details
| Name | Shareholding |
|---|---|
| Manikandan Moorthy | 37.20% |
| Venkatesan Moorthy | 37.20% |
| Total | 74.40% |
Management Details
| Name | Designation |
|---|---|
| Venkatesan Moorthy | Chairman & MD |
| Manikandan Moorthy | Jt. MD |
| P S Karunakaran | CFO |
Company Details
Name: Airfloa Rail Technology Limited
Address: No 9 Chelliamman Koilstreet Keelkttalai
Chennai-117 Tamil Nadu 600117 India
Number: +91 9600621490
Email: cs@airflow.co.in
Website: https://www.airflow.co.in/
Book Running Lead Managers (BRLMs)
GYR Capital
Visit WebsiteRTAs
KFin Technologies
Visit WebsiteFrequently Asked questions?
Find answers to common questions that come in your mind related to IPO.
Airfloa Rail Technology IPO is a SME IPO having an issue size of Rs. ₹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.
Airfloa Rail Technology IPO opens on 11 Sep 25 and closes on 15 Sep 25.
The estimated Grey Market Premium of Airfloa Rail Technology IPO is ₹150 per share (107.14%).
The minimum lot size of Airfloa Rail Technology IPO is 1000 shares & the minimum application amount is Rs. 140000.
The allotment date of Airfloa Rail Technology IPO is 16 Sep 25.
The listing date of Airfloa Rail Technology IPO is 18 Sep 25.
Airfloa Rail Technology IPO is subscribed -.
Airfloa Rail Technology IPO is priced at ₹133 - ₹140 per share.
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