Airfloa Rail Technology lists at 90% premium, hits upper circuit later

Airfloa Rail Technology share price: Airfloa Rail Technology shares were listed at ₹266 apiece, representing a 90 per cent premium over the issue price of ₹140 per share

Airfloa Rail Technology IPO listing today: Shares of railway component manufacturer Airfloa Rail Technology made a bumper debut on the BSE SME platform on Thursday, September 18, hitting the upper circuit within minutes of listing and continuing their upward momentum.

 

Airfloa Rail Technology shares were listed at ₹266 apiece, representing a 90 per cent premium over the issue price of ₹140 per share. Notably, the BSE has set a cap on SME IPO listings, restricting the opening price to no more than 90 per cent above the issue price.

 

After listing, the shares gained an additional 5 per cent, surging a total of 99.5 per cent from the issue price to reach the upper circuit of ₹279.30 on the BSE SME. During the session, nearly 0.6 million shares, valued at ₹16.44 crore, exchanged hands.

 

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Airfloa Rail Technology’s market debut aligned closely with grey market estimates. Ahead of the listing, Airfloa Rail Technology’s unlisted shares were quoted at around ₹315 in the grey market. This suggested a grey market premium (GMP) of ₹175, or approximately 125 per cent, over the issue price, according to sources tracking unofficial market activity.

Airfloa Rail Technology IPO details

The public offering consisted entirely of a fresh issue of 6.5 lakh equity shares, raising approximately ₹91.10 crore. There was no offer-for-sale component. The subscription window to bid for the Airfloa Rail Technology IPO was open from September 11 to September 15, 2025.

 

Available at a price band of ₹133–140 per share, with a lot size of 1,000 shares, the IPO saw strong demand from investors. The public issue was oversubscribed by a whopping 281.04 times, according to data from the BSE. The company has set the issue price at ₹140 per share. 

 

Airfloa Rail Technology will utilise the funds raised through the public issue for the purchase of machinery and equipment, repayment of a portion of outstanding borrowings, funding working capital requirements, and for general corporate purposes.

About Airfloa Rail Technology

Airfloa Rail Technology Limited was incorporated to manufacture components for Indian Railways' rolling stock. The company produces complex parts for aerospace and defense, including components for AMCA ground simulators and artillery tank bodies. Airfloa Rail Technology offers turnkey interior furnishing projects for railway initiatives like the Vande Bharat Express and Agra-Kanpur Metro. The company serves Indian Railways, railway production units, and global rolling stock OEMs.