BSE SME IPO of Airfloa Rail Technology subscribed 20.69 times

The initial public offer (IPO) of Airfloa Rail Technology received bids for 9,63,10,000 shares as against 46,55,000 shares on offer, as per BSE data as of 17:00 hours on Thursday (11 September 2025). The issue was subscribed 20.69 times. The issue opened for bidding on Thursday (11 September 2025) and it will close on Monday (15 September 2025). The price band of the IPO is fixed between Rs 133 to Rs 140 per share. The minimum order quantity is 1,000 equity shares. The equity shares will list on BSE’s SME platform. The IPO comprises fresh issue of 65,07,000 equity shares. About 3,26,000 equity shares will be reserved for subscription by market maker to the issue. The net issue comprises of 61,81,000 equity shares. The Issue and the net issue will constitute 27.15% and 25.79% respectively of the post issue paid up equity share capital of the company. The company intends to utilize the net proceeds for capital expenditure towards purchase of machinery and equipment, repayment of a portion of certain outstanding borrowing availed by the company, funding of the working capital requirement and general corporate purposes. Ahead of the IPO, Airfloa Rail Technology on Monday, 10 September 2025, raised Rs 25.92 crore from anchor investors. The board allotted 18.52 lakh shares at Rs 140 each to 8 anchor investors. Airfloa Rail Technology is primarily engaged in the manufacturing of components used in rolling stock for Indian Railways, supplying through railway production units such as 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, it manufactures intricate, highly engineered, and critical components. Along with Indian Railways, through ICF and other coach factories, the company also serves other railway factories and global rolling stock OEMs. Airfloa Rail Technology has manufactured rolling stock components and executed turnkey interior furnishing projects for various platforms including the Sri Lankan DEMU and Mainline Export Coaches, Agra-Kanpur Metro Coach, RRTS Coach, Vistadome Coach, and Train-18 (Vande Bharat Express). As of 31 July 2025, the company’s work force comprised 281 employees (including employees on contract basis) including its senior management team. The company recorded revenue from operations of Rs 192.39 crore and net profit of Rs 25.56 crore for the year ended 31 March 2025