Airfloa Rail Technology IPO Subscription Status

On the first day of bidding (11 September 2025, till 5:00 PM), the Airfloa Rail Technology IPO was subscribed 22.25 times overall.

• QIB portion: 0.00×
• NII portion: 24.06×
• RII portion: 34.17×

The company received bids for 9,63,10,000 shares against the 43,29,000 shares on offer. On Day 2, the issue was subscribed 9.48×.

About Airfloa Rail Technology

Founded in 1998, Airfloa Rail Technology Limited began with the mission of manufacturing components for Indian Railways, supplying parts to facilities such as the Integral Coach Factory (ICF) and other major coach plants. The company produces train components and interiors for Indian Railways and also manufactures critical, complex parts for the aerospace and defence sectors.

Its projects include interiors and components for Sri Lankan trains, mainline coaches, the Agra–Kanpur Metro RRTS, Vistadome coaches, and the Train-18 Vande Bharat Express. Airfloa is recognized as a versatile partner to the railway, aerospace, and defence industries, thanks to:

• High-quality manufacturing capabilities
• A stable order book
• A proven, scalable financial model that supports sustained growth and rising market demand

Financial Highlights

• Revenue: ₹192.66 crore in FY 2025 vs ₹122.87 crore in FY 2024
• Profit: ₹25.56 crore in FY 2025 vs ₹14.23 crore in FY 2024

Grey Market Premium (GMP)

As of Thursday, 11 September 2025, the Airfloa Rail Technology IPO carried a GMP of ₹165, implying a grey-market price of ₹305—a premium of ₹165 over the ₹140 issue price.