Airfloa Rail Technology IPO Subscription Status

On the last day of bidding (15 September 2025, 5:00 PM), the Airfloa Rail Technology IPO was subscribed 301.52 times overall.

• QIB investors: 214.65×
• NII investors: 349.88×
• Retail investors: 330.31×

The company received bids for 1,30,52,81,000 shares against an offer size of 43,29,000 shares.
For reference, by the second day, the IPO had already been subscribed 65.32×.

About Airfloa Rail Technology Limited

Founded in 1998, Airfloa Rail Technology Limited began with a mission to manufacture components for the Indian Railways, supplying parts to facilities such as the Integral Coach Factory (ICF) and other coach factories. The company specializes in producing train components and interiors for Indian Railways and also develops critical, high-precision parts for the aerospace and defence sectors.

Its portfolio extends beyond India, contributing to projects like Sri Lankan trains, Mainline Coaches, Agra–Kanpur Metro RRTS, Vistadome Coaches, and the Train-18 Vande Bharat Express.

Key strengths include:

• Versatility as a manufacturing partner across railway, aerospace, and defence industries.
• Advanced capabilities to deliver high-quality components.
• A stable order book and a scalable, proven financial model, positioning the company for sustained growth and to meet increasing market demand.

Financial Highlights

• Revenue: ₹192.66 crore in FY2025 vs. ₹122.87 crore in FY2024.
• Profit: ₹25.56 crore in FY2025 vs. ₹14.23 crore in FY2024.

Grey Market Premium (GMP)

As of Monday, 15 September 2025, the Airfloa Rail Technology IPO GMP stood at ₹166. This indicates the shares were trading in the grey market at around ₹306—a ₹166 premium over the issue price of ₹140.