Airfloa Rail Technology IPO opens with 118% GMP; check key details here

Airfloa Rail Technology IPO opens today: Check price band, lot size, grey market premium (GMP), allotment date, listing date, other key details here

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Airfloa Rail Technology IPO GMP Zooms: The grey market trends indicate a favourable sentiment for the initial public offering of railways, defence, and aerospace products manufacturer Airfloa Rail Technology, which opens for public subscription today, September 11, 2025. The company seeks to raise ₹91.10 crore from the public offering, which comprises an entirely fresh issue of equity shares.

 

Sources tracking grey market activities revealed that the company's unlisted shares were exchanging hands at ₹305 per share. This translates to a grey market premium of ₹165 per share, or 117.86 per cent over the upper end of the issue price of ₹140 per share.

Here’s a look at the key details of Airfloa Rail Technology IPO as outlined in its Red Herring Prospectus (RHP):

Airfloa Rail Technology IPO details

The public offering comprises a fresh issue of 6.5 million equity shares, estimated to be worth ₹91.10 crore. The company has set the price band at ₹133–₹140 per share, with a lot size of 1,000 shares. Investors can bid for a minimum of 2,000 shares, and in multiples of 1,000 shares thereafter, with a minimum investment amount of ₹2,80,000.

 

The company proposes to utilise the proceeds from the public offering for capital expenditure towards the purchase of machinery and equipment, repayment of a portion of outstanding borrowings, and to fund working capital requirements as well as for general corporate purposes.

 

KFIN Technologies serves as the registrar for the public issue, while GYR Capital Advisors is the sole book running lead manager.  ALSO READ | Tata Capital concludes IPO roadshows, positions itself as NBFC green leader

Airfloa Rail Technology IPO timeline

The public offering will remain available for subscription till September 15, 2025. Following that, the basis of allotment for Airfloa Rail Technology IPO shares is likely to be finalised on September 16, 2025.

 

Airfloa Rail Technology shares are set to list on the BSE SME platform, tentatively on Thursday, September 18, 2025.

About Airfloa Rail Technology

Airfloa Rail Technology is engaged in the manufacturing of components used in rolling stock for the Indian Railways through production units like the Integral Coach Factory (ICF) and other coach factories. In addition to manufacturing rolling stock components, the company also undertakes turnkey interior furnishing projects for Indian Railways. In the aerospace and defence sectors, the company manufactures intricate, highly engineered, and critical components. Along with Indian Railways through ICF and other coach factories, Airfloa Rail Technology also serves other railway factories and global rolling stock OEMs.  The company's profit for the financial year ended March 31, 2025, stood at ₹25.54 crore. Revenue from operations stood at ₹192.38 crore, while expenses amounted to ₹157.69 crore.