Airfloa Rail Technology soars 90% on SME platform
Airfloa Rail Technology made a splashy entry on the BSE SME platform this Thursday, with its shares potentially soaring up to 90% above the IPO price of ₹140.
The IPO was a huge hit—oversubscribed by more than 301 times and drawing over 4.1 lakh applications.
Investor interest came from all sides: retail investors alone subscribed to their quota 330 times, while others pushed demand even higher.
Company builds train interiors, aerospace components
The company builds key components and interiors for Indian trains—including big projects like Vande Bharat Express and Agra-Kanpur Metro—and also works in aerospace and defense.
For FY25, Airfloa clocked ₹192.7 crore in revenue and ₹25.6 crore profit after tax, with strong margins above 24%.
Money raised from the IPO will help fund new projects, pay down debt, and boost working capital.
Promoter stake drops to 54.2%
BSE SME rules capped first-day gains at 90% to keep things steady despite major hype in the gray market.
After this IPO, promoters' stake drops from 74.4% to 54.2%, as the company gears up for its next phase of growth alongside India's railway modernization push.