31 Mar 2025
Assets256.94
Total Income192.66
EBITDA47.41
Profit After Tax25.55
NET Worth110.80
Reserves and Surplus93.34
Total Borrowing59.98
At a glance
Updated 2026-09-11The shares listed at ₹266.00, a 90.00% move from the issue price. Airfloa Rail Technology is a SME IPO with an issue size of ₹91.10 crore, proposed for listing on BSE SME. The offer opens on 11th Sep 2025 and closes on 15th Sep 2025. The issue structure includes a fresh issue of ₹86.53 crore. The current listing schedule points to 18th Sep 2025.
Issue details
Listing atBSE SME
Issue typeBook Build Issue
Issue size₹91.10 Cr
Fresh issue₹86.53 Cr
Face value₹10
Price band₹133.00–₹140.00
Allotment16th Sep 2025
Listing18th Sep 2025
Listing performance
Full performance ↗Issue price₹140.00
Listing price₹266.00
Current price—
Listing gain90.00%
Current return—
Price progressionIssue → Listing → Current
Grey market
GMP page ↗Latest GMP₹175.00
GMP / upper price125.00%
Est. listing₹315.00
GMP is unofficial sentiment data, not an exchange price.
Timeline
Opens11th Sep 2025
Closes15th Sep 2025
Allotment16th Sep 2025
Refund17th Sep 2025
Demat17th Sep 2025
Listing18th Sep 2025
Subscription demand
Full bidding ↗Total301.52×
Lot size
| Investor | Lots | Shares | Amount |
|---|---|---|---|
| Minimum Bid | 1 | 2000 | ₹280,000 |
Company
Use of proceeds
| Object | Amount |
|---|---|
| Capital expenditure towards purchase of machinery and equipmen | ₹13.68 Cr |
| Repayment of a portion of certain outstanding borrowing availed by the company | ₹6.00 Cr |
| Funding working capital requirements of the Company | ₹59.27 Cr |
| General Corporate Purposes | ₹9.90 Cr |
| Issue Expenses | ₹2.24 Cr |
| Total | ₹91.09 Cr |
Financial performance
Year-wise operating scale, profitability and balance-sheet context.Revenue192.66₹ Cr
EBITDA47.41₹ Cr
PAT25.55₹ Cr
Assets256.94₹ Cr
Net Worth110.80₹ Cr
Borrowing59.98₹ Cr
3-year financial trendRevenue / EBITDA / PAT
₹ croreKPIs
| KPI | Mar 31, 2025 |
|---|---|
| ROE | 30.64% |
| ROCE | 26.28% |
| Debt / Equity | 0.54% |
| RoNW | 23.06% |
| PAT Margin | 13.28% |
| EBITDA Margin | 24.61% |
| Price to Book Value | 2.19 |
Valuation & shareholding
Pre-IPO EPS14.63
Post-IPO EPS10.66
Pre-IPO P/E9.57
Post-IPO P/E13.14
Promoter holding pre74.4%
Promoter holding post54.2%
Market cap₹335.58 Cr.
Peer comparison
| Company | EPS | P/E | RoNW | NAV |
|---|---|---|---|---|
| Airfloa Rail Technology IPO | — | 23.58 x | — | — |
| IC Electricals IPO | — | 12.82 x | — | — |
| E-To-E Transportation IPO | — | 21.46 x | — | — |
| Dhara Rail IPO | — | 29.12 x | — | — |
Issue expenses
| Expense | Amount |
|---|---|
| Capital expenditure towards purchase of machinery and equipmen | ₹13.68 Cr |
| Repayment of a portion of certain outstanding borrowing availed by the company | ₹6.00 Cr |
| Funding working capital requirements of the Company | ₹59.27 Cr |
| General Corporate Purposes | ₹9.90 Cr |
| Issue Expenses | ₹2.24 Cr |
| Total | ₹91.09 Cr |
Registrar & lead managers
Registrar
Kfin Technologies Ltd.Lead managers
- GYR Capital Advisors Pvt.Ltd.
Offer documents
Data is reconciled from multiple public IPO sources. Official exchange filings and offer documents remain the source of truth. Last verified 2026-09-11.
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