Airfloa Rail Technology to raise ₹91cr via SME IPO
Airfloa Rail Technology, which makes parts for Indian Railways, is planning to raise ₹91 crore through an IPO on the BSE SME platform.
They're offering over 65 lakh shares priced between ₹133-140 each (minimum bid: 1,000 shares).
The money will help them buy new machinery, pay off some loans, boost working capital and cover general business needs.
Strong order book of ₹376 crore
According to Chairman Venkatesan Dakshinamoorthy, Airfloa's strong order book of ₹376 crore puts them in a good spot for growth.
The IPO funds will go toward expanding their manufacturing setup and making operations more efficient.
With ties to Indian Railways, aerospace, and defense—and support from advisors highlighting India's push for modern rail systems—Airfloa is aiming to ride the wave of Make in India initiatives.