🏭 What is Airfloa Rail Technology Ltd?
Airfloa Rail Technology Ltd is an Indian railway components and interiors manufacturer serving Indian Railways, metro projects, and coach factories. The company designs, engineers, and manufactures modern railway interiors with a focus on safety, durability, and passenger comfort.
🔧 Product Portfolio
- Automatic and sliding doors (saloon, compartment, and body side doors)
- Windows and glazing systems
- Passenger seats (polycarbonate, cushioned, and backrest designs)
- Interior panels (roofing, sidewalls, and end walls)
- Lighting and diffusers
- AC ducting, grills, and ventilation systems
🌐 Clients
- Indian Railways & metro projects
- Integral Coach Factory (ICF)
- Modern Coach Factory (MCF)
- Bharat Earth Movers Ltd (BEML)
- Other OEMs and defence projects
📊 Airfloa Rail Technology Ltd Financials
| Particulars (FY25) | Value |
|---|---|
| Revenue from Operations | ₹192.38 crore |
| EBITDA | ₹47.40 crore |
| Profit After Tax (PAT) | ₹25.54 crore |
| Net Worth | ₹83.5 crore |
| Order Book (Aug 2025) | ₹375.89 crore |
💡 The company reported strong growth in FY25 compared to FY24, with improved profitability and a robust order pipeline.
📝 Airfloa Rail Technology IPO Details 2025
| Particulars | Details |
|---|---|
| IPO Open Date | September 11, 2025 |
| IPO Close Date | September 15, 2025 |
| Issue Size | ₹91.10 crore |
| Fresh Issue | 65,07,000 equity shares |
| Face Value | ₹10 per share |
| Price Band | ₹133 – ₹140 |
| Lot Size | 1,000 shares |
| Listing | BSE SME |
| Basis of Allotment | September 16, 2025 |
| Listing Date | September 18, 2025 (tentative) |
💰 Use of Proceeds
- Purchase of advanced machinery and technology upgrades
- Repayment of borrowings
- Funding working capital needs
- General corporate purposes
💡 Strengths of Airfloa Rail Technology IPO
- Robust Order Book – ₹375+ crore ensures revenue visibility.
- Strong Growth in Financials – Revenue nearly doubled in 2 years.
- Diverse Product Range – Full interior and component solutions.
- Government Push for Railways – Massive modernization investments.
- High Margins vs Peers – PAT margin ~13% vs 4–6% for larger players.
⚠️ Risks Investors Should Know
- High Dependence on Indian Railways Contracts
- Working Capital Heavy Business – Delayed payments impact cash flow.
- SME IPO Risk – Liquidity issues and higher volatility.
- Competitive Market – Pricing pressure from domestic & global players.
📊 Grey Market Premium (GMP) of Airfloa Rail IPO
- Current GMP: ₹110–115 per share
- At the upper price band of ₹140, listing is expected around ₹250–₹260, giving 70–80% premium.
📊 Peer Comparison
| Company | Revenue (FY25) | PAT Margin | Segment |
|---|---|---|---|
| Titagarh Rail | ₹5,000+ crore | 6% | Rolling stock |
| Texmaco Rail | ₹3,600+ crore | 4% | Rail infra & interiors |
| Airfloa Rail Technology | ₹192 crore | 13% | Rail interiors & components |
💡 Though smaller in size, Airfloa Rail Technology shows higher profitability than its larger peers.
📌 Should You Invest in Airfloa Rail Technology IPO?
- For Listing Gains: ✅ Attractive due to strong GMP and robust order book.
- For Long-Term: ⚠️ Suitable for aggressive investors; dependency on government contracts and SME risks remain.
📈 Expert Verdict: Apply for short-term gains, track financial execution for long-term holding.
❓ FAQs on Airfloa Rail Technology Ltd IPO
Q1. What is the IPO date of Airfloa Rail Technology Ltd?
👉 The IPO opens on September 11, 2025, and closes on September 15, 2025.
Q2. What is the price band of Airfloa IPO?
👉 The price band is ₹133–₹140 per share.
Q3. What is the Airfloa Rail IPO GMP today?
👉 Around ₹110–115, indicating a possible 70–80% listing gain.
Q4. When will Airfloa Rail IPO allotment be announced?
👉 Tentatively on September 16, 2025.
Q5. Where will the IPO list?
👉 On the BSE SME platform.
Q6. Is Airfloa IPO good for long-term investment?
👉 Yes, if Indian Railways modernization continues, but risks of SME volatility and government dependence remain.
✅ Conclusion
Airfloa Rail Technology Ltd IPO is one of the most awaited SME IPOs of 2025, backed by strong financials, a large order book, and high market interest. The GMP trend suggests excellent listing gains, while long-term prospects depend on government railway spending and efficient working capital management.
👉 Final Word: Recommended for listing gains; long-term investors should remain cautious and monitor order execution.
Subscription
| Investor | 11 Sep 2025 | 12 Sep 2025 | 12 Sep 2025 |
|---|---|---|---|
| Anchor | 0 | ||
| QIB | 0.0 | ||
| Non-Institutional | 24.06 | ||
| BNII | 21.32 | ||
| SNII | 29.54 | ||
| Retail | 34.17 | ||
| Total | 22.25 |
GMP Trend:
| Date | GMP |
|---|---|
| 11 Sep 2025 | ₹166.00(118.57%) |
| 12 Sep 2025 | ₹? |
| 15 Sep 2025 | ₹?(?%) |
It should be noted that IPO GMP is subject to extreme volatility, so an investment decision based solely on Patel Retail IPO GMP will prove risky. Therefore, before to investing, consider all factors and make the right investment decision whether to invest in Patel Retail IPO or not.
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- ⚠️ IPO (Initial Public Offerings)
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- ⚠️ GMP (Grey Market Premium)
- Grey Market Premium (GMP) is an unofficial and unregulated indicator of expected IPO listing price.
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