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AIRFLOASME / BSEListed
Airfloa Rail Technology

Airfloa Rail Technology Limited, established in December 1998, is a certified ISO 9001:2015, EN 15085-2, and BMS company engaged in the manufacturing of high-precision components and turnkey interior furnishing solutions for the railway, aerospace, and defense sectors. With a team of 255 employees, including contract staff and senior management, the company has built a strong reputation in the railway segment by supplying to major Indian Railways production units such as the Integral Coach Factory and other coach-building facilities. It has played a key role in several landmark projects, including the Vande Bharat Express (Train-18), Vistadome coaches, Sri Lankan DEMU, mainline coaches, the Agra-Kanpur Metro, and the Regional Rapid Transit System. Expanding beyond railways, the company also contributes to the aerospace and defense industries by manufacturing critical components for projects like the Advanced Medium Combat Aircraft (AMCA) ground simulators and artillery tank bodies. Its specialized product range includes seating systems designed for comfort during long journeys, integrated coach doors that ensure safe and efficient passenger movement, climate control systems with advanced air diffusers, and a variety of interior elements such as large windows, roof panels, and Passenger Information Display Systems.

₹133 - ₹140301.6x sub
Listed Price₹266.00
Listing Gain+90.00%

IPO Schedule & Timeline

Bookbuilding IPO
Open11 Sep 2025
Close15 Sep 2025
Allotment16 Sep 2025
Listing18 Sep 2025

Quota Reservation & Application Lots

Quota Reservation (% Shares)

Anchor18,52,000 shares
28.46%
QIB12,35,000 shares
18.98%
HNI9,30,000 shares
14.29%
Retail21,64,000 shares
33.26%
Market Maker3,26,000 shares
5.01%

Minimum Application Lots

Retail2 Lots (2,000 shares)
₹2,80,000
sHNI3 Lots (3,000 shares)
₹4,20,000
bHNI8 Lots (8,000 shares)
₹11,20,000

Company Promoters

Mr. Venkatesan DakshinamoorthyMr. Manikandan DakshnamoorthyMs. Nandhini ManikandanMr. Sathishkumar Venkatesan

Company Background

Airfloa Rail Technology Limited, established in December 1998, is a certified ISO 9001:2015, EN 15085-2, and BMS company engaged in the manufacturing of high-precision components and turnkey interior furnishing solutions for the railway, aerospace, and defense sectors. With a team of 255 employees, including contract staff and senior management, the company ...

Financial Performance

Figures in ₹ Crores
Metric Breakdown

Revenue

Latest (Mar-25)₹192.66 Cr
Growth+40.0%
Revenue Trend (₹ in Crores)
0.073.9147.7221.6Mar-22Mar-23Mar-24Mar-25
PeriodRev (Cr)PAT (Cr)AssetsDebt
Mar-25192.6625.55256.9359.97
Mar-24122.8714.23201.9963.80
Mar-2395.331.49163.8960.22
Mar-22137.633.43176.7670.85

Key Performance Indicators (KPIs)

PeriodEPSROEROCEP/E (Pre)P/E (Post)
Mar-2515.6330.64%26.28%9.5713.14
Mar-249.5029.13%26.42%00
Mar-2313.64%11.31%00

Peer Comparison & Valuation

Financial Performance

Jupiter Wagons Limited

NAV/Share (₹)64.88
RONW(%)13.81
EPS (Basic) (₹)9.08

Airfloa Rail Technology Limited

NAV/Share (₹)63.81
RONW(%)23.06
EPS (Basic) (₹)15.63

Titagarh Rail Systems Ltd

NAV/Share (₹)184.4
RONW(%)11.07
EPS (Basic) (₹)20.39

Valuation

Jupiter Wagons Limited

P/E(X)37.8
CMP* (₹)343.25
Face value (₹)10

Airfloa Rail Technology Limited

P/E(X)NA
CMP* (₹)NA
Face value (₹)10

Titagarh Rail Systems Ltd

P/E(X)41.94
CMP* (₹)855.1
Face value (₹)2

Broker & Analyst Reviews

Review Not Available

Institutional broker reviews and analyst reports have not been released for this issue yet. Reviews are typically published 2 to 3 days prior to the issue opening date.

IPO Allotment & Registrar Status

Official Registrar: Kfin Technologies Limited

Allotment Finalized
Allotment Date
16 Sep 2025
Official Status
Out / Finalized
Registrar
Kfin Technologies Limited
Listing Date
18 Sep 2025

Official Allotment Verification Links

Official Registrar Portal
Kfin Technologies Limited

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Stock Exchange Portal
BSE India Investor Portal

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Allotment Schedule & Milestones

IST
1. Allotment Finalization16 Sep 2025Basis of allotment declared
2. Refund Initiation1 day post allotmentUPI / ASBA mandate unblocked
3. Demat CreditPrior to listingShares credited to CDSL/NSDL
4. Listing Date18 Sep 2025Trading commences on exchange

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Prospectus & Official Filings

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About Airfloa Rail Technology IPO

Complete issue overview for Airfloa Rail Technology (AIRFLOA) IPO. The issue features an equity share price band of ₹133 – ₹140 per share with a minimum retail lot size of 1000 Shares (minimum application amount of ₹1,40,000). Explore live market tracking on our GMP Tracker, compare against All IPO GMP Today, or view category bidding on the Subscription Page. Verify official allotment via IPO Registrars or review participating investment bankers in our Lead Managers Directory.

Frequently Asked Questions