The Airflowa Rail Technology IPO will open on September 11, 2025, and close on September 15, 2025. The Airflowa Rail Technology IPO is a book-built issue. The company will raise approximately ₹91.10 crore through the IPO, comprising a fresh issue of ₹91.10 crore of equity shares with a face value of ₹10 each.
The price band for the Airflowa Rail Technology IPO is ₹133 to ₹140 per share. The retail quota is 35%, QIB (Qualified Institutional Buyers) 50%, and HNI (High Net Worth Individuals) 15%. The Airflowa Rail Technology IPO will be listed on the BSE on September 18, 2025. The allotment for the Airflowa Rail Technology IPO will be finalized on September 16, 2025.
The company earned revenue of ₹192.66 crore in 2025, as compared to ₹122.87 crore in 2024. The company earned a profit of ₹25.56 crore in 2025, as compared to ₹14.23 crore in 2024. Based on the financial data, the IPO GMP is recommended for long-term investment.
Airfloa Rail Technology IPO Details
Airfloa Rail Technology IPO Details
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| RHP Draft Prospectus: |
Airfloa Rail Technology IPO Review & Key Points
- To be updated soon
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 | %Shares |
| Market Maker Shares Offered | 3,26,000 Shares | 5.01% |
| QIB Shares Offered | 30,87,000 Shares | 47.44% |
| Anchor Investor | 18,52,000 Shares | 28.46% |
| QIB (Ex. Anchor) | 12,35,000 Shares | 18.98% |
| NII Shares Offered | 9,30,000 Shares | 14.29% |
| bNII > ₹10L | 6,20,000 Shares | 9.53% |
| sNII < ₹10L | 3,10,000 Shares | 4.76% |
| Retail Shares Offered | 21,64,000 Shares | 33.26% |
| Total Shares Offered | 65,07,000 Shares | 100.00% |
Airfloa Rail Technology IPO Anchor Investors
| Anchor Bidding Date | September 10, 2025 |
| Anchor Investors List | . |
| Shares Offered | 18,52,000 Shares |
| Anchor Size | 25.93 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 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 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 | – | -% |
Airfloa Rail Technology Ltd. Financial Information (Restated Consolidated)
| Period Ended | 31 Mar 2025 |
| Assets | 256.94 |
| Total Income | 192.66 |
| Profit After Tax | 25.55 |
| EBITDA | 47.41 |
| Net Worth | 110.80 |
| Reserves and Surplus | 93.34 |
| Total Borrowing | 59.98 |
| Amount in ₹ Crore | |
About the Airfloa Rail Technology IPO
Airfloa Rail Technology Limited is a leading company, established in 1998, with the objective of manufacturing components for Indian Railways. These components are used in the Integral Coach Factory (ICF) and other coach manufacturing plants. The company manufactures train components and interiors for Indian Railways. It also manufactures critical and complex components for the aerospace and defense sectors.
Furthermore, the company works on train component and interior projects for Sri Lankan trains, mainline coaches, the Agra-Kanpur Metro RRTS, Vista-Dome coaches, and the Train-18 Vande Bharat Express. The company has several key strengths, which are listed below. It is considered a reliable partner for the rail, aerospace, and defense sectors due to its manufacturing capabilities that produce high-quality components. Additionally, the company has a stable order book, a successful and scalable financial model for consistent growth, and is meeting the growing demands of the market.