The latest grey market premium for Airfloa Rail Technology IPO was Rs 150 per share at 8:00 a.m. on September 18. Compared to the upper limit of the IPO price band of Rs 140 per share, the latest GMP signals an estimated listing price of Rs 290 apiece. The latest GMP for Airfloa Rail Technology IPO indicates listing of shares at a premium of 107.14%.
However, since the end of the subscription, the GMP for the SME IPO has dropped by Rs 25 from Rs 175 to Rs 150 in the last two days.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Use Of Proceeds
Airfloa Rail Technology has proposed to utilise the IPO funds for capital expenditure towards the purchase of machinery and equipment, repayment of a portion of outstanding debts and working capital needs. A portion of the IPO proceeds will also be used for general corporate purposes.
About
Airfloa Rail Technology Ltd., incorporated in December 1998, is a manufacturer of components for Indian Railways’ rolling stock. It operates through production units like the Integral Coach Factory (ICF) and other coach factories. It also manufactures crucial parts for the aerospace and defence sectors. The company has made rolling stock components and managed interior projects for Sri Lankan DEMU, Mainline Coaches, Agra-Kanpur Metro, RRTS, Vistadome Coaches and Vande Bharat Express trains.
