Airfloa Rail Technology IPO Date, Review, Price, Allotment Details

Posted on: 06 Sep 2025

The Airfloa Rail Technology IPO will open on September 11, 2025, and close on September 15, 2025. It is being launched as a Book Built Issue, with the company aiming to raise around ₹91.10 crores. This comprises a fresh issue worth ₹91.10 crores, along with an offer for sale of equity shares with a face value of ₹10 each.

The IPO price band has been fixed at ₹133 to ₹140 per share, with the allocation set at 35% for retail investors, 50% for QIBs, and 15% for HNIs. The basis of allotment is scheduled for September 16, 2025, and the company’s shares are proposed to be listed on the BSE on September 18, 2025.

In 2025, the company reported a revenue of ₹192.66 crores, up from ₹122.87 crores in 2024. Its net profit also grew significantly, rising to ₹25.56 crores in 2025 compared to ₹14.23 crores in 2024. Based on these financial results, investors are advised to consider this IPO as a long-term investment opportunity.

Airfloa Rail Technology IPO Details

IPO Open Date:
September 11, 2025
IPO Close Date:
September 15, 2025
Face Value:
₹10 Per Equity Share
IPO Price Band:
₹133 to ₹140 Per Share
Issue Size:
Approx ₹91.10 Crores
Fresh Issue:
Approx ₹91.10 Crores
Lot Size:
1,000 Shares
Issue Type:
Book Built Issue
IPO Listing:
BSE SME
DRHP Draft Prospectus:
PDF
RHP Draft Prospectus:
PDF

Airfloa Rail Technology IPO Market Lot

The Airfloa Rail Technology IPO minimum market lot is 2,000 shares with ₹2,80,000 application amount.

Application
Lot Size
Shares
Amount
Retail Minimum
2
2,000
₹2,80,000
Retail Maximum
2
2,000
₹2,80,000
S-HNI Minimum
3
3,000
₹4,20,000
S-HNI Maximum
7
7,000
₹9,80,000
B-HNI Minimum
8
8,000
₹11,20,000

IPO Reservation

Investor Category
Share Offered
QIB Shares Offered
50% of the Net Offer
NII Shares Offered
15% of the Net Offer
Retail Shares Offered
35% of the Net Offer

Airfloa Rail Technology IPO Anchor Investors

Anchor Bidding Date
September 10, 2025
Anchor Investors List
PDF
Shares Offered
[.] Shares
Anchor Size
[.] Cr.
lock-in period end date 50% shares (30 Days)
October 16, 2025
lock-in period end date 50% shares (90 Days)
December 15, 2025

Airfloa Rail Technology IPO Dates

The Airfloa Rail Technology IPO date is September 11, and the close date is September 15. The Airfloa Rail Technology IPO allotment will be finalized on September 16, and the IPO listing will be on September 18.

IPO Open Date:
September 11, 2025
IPO Close Date:
September 15, 2025
Basis of Allotment:
September 16, 2025
Refunds:
September 17, 2025
Credit to Demat Account:
September 17, 2025
IPO Listing Date:
September 18, 2025
IPO Bidding Cut-off Time:
September 15, 2025 – 5 PM

Promoters of Airfloa Rail Technology IPO

The promoters of the company are Mr. Venkatesan Dakshinamoorthy, Mr. Manikandan Dakshnamoorthy, Ms. Nandhini Manikandan and Mr. Sathishkumar Venkatesan.

Particular
Shares
% Share
Promoter Holding Pre Issue
1,74,62,954
74.40%
Promoter Holding Post Issue
2,39,69,954
54.2%

Objects of the Issue & Utilisation of Proceeds

Purpose
Crores
%
Capital expenditure towards the purchase of machinery and equipment
13.68
-%
Repayment of a portion of certain outstanding borrowing availed by the company
6.00
-%
Funding working capital requirements
59.27
-%
General corporate purposes
-%

About Airfloa Rail Technology IPO

One well known company is Airfloa Rail Technology Limited which was established in 1998 and began its operations with the objective of supplying the Indian Railways with its components. Such sections are assembled at locations such as the Integral Coach Factory (ICF) and other coach factories. The company manufactures train parts and interiors for the Indian Railways. It is also a producer of significant and sophisticated components of the aerospace and defence industries.

Further, the company manufactures train components and interior Sri Lankan trains, mainline Coaches, Agra Kanpur Metro RRTS, Vistadome Coaches, and the Train-18 Vande Bharat Express. Competitive strengths of the company are also presented below. They are seen as a flexible ally to the railway, aerospace, and defence industries because their manufacturing capabilities can create quality components. Furthermore, the company possesses a solid work order book, an established financial and scalable business base to further growth, and is satisfying increasing market demand.

Airfloa Rail Technology IPO Company Financial Report

The company reported revenue of ₹192.66 crores in 2025 against ₹122.87 crores in 2024. The company reported a profit of ₹25.56 crores in 2025 against a profit of ₹14.23 crores in 2024.

Amount ₹ in Crores

Period Ended
Revenue
Expense
PAT
Assets
2022
₹137.63
₹132.50
₹3.43
₹176.76
2023
₹95.33
₹92.98
₹1.49
₹163.89
2024
₹122.87
₹102.27
₹14.23
₹201.99
2025
₹192.66
₹157.69
₹25.56
₹255.76

Airfloa Rail Technology IPO Valuation – FY2025

Check Airfloa Rail Technology IPO valuations detail like Earnings Per Share (EPS), Price/Earnings P/E Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.

KPI
Values
ROE:
30.64%
ROCE:
26.28%
EBITDA Margin:
24.61%
PAT Margin:
13.28%
Debt to equity ratio:
0.54
Earning Per Share (EPS):
₹15.63 (Basic)
Price/Earnings P/E Ratio:
N/A
Return on Net Worth (RoNW):
23.06%
Net Asset Value (NAV):
₹63.8

Peer Group Comparison

Company
EPS
PE Ratio
RoNW %
NAV
Income
Jupiter Wagons Limited
9.08
37.80
13.81%
64.88
4,007.64 Cr.
Titagarh Rail Systems Ltd
20.39
41.94
11.07%
184.40
3,943.10 Cr.

IPO Lead Managers aka Merchant Bankers

  • GYR Capital Advisors Pvt.Ltd. 

IPO Registrar

KFin Technologies Limited
Phone: 04067162222, 04079611000
Email:
Website: https://ipostatus.kfintech.com/

Company Address

Airfloa Rail Technology Ltd.
No. 9 Chelliamman
Koilstreet Keelkttala
Chennai, Tamil Nadu, 600117
Phone: +91 9600621490
Email: cs@airflow.co.in
Website: https://www.airflow.co.in/


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