Airfloa Rail Technology IPO is a book-built issue aiming to raise ₹91.10 crore. The issue is entirely a fresh issue of 0.65 crore shares of ₹91.10 crore. The bidding window was open from Sep 11, 2025 and closes on Sep 15, 2025, with the IPO allotment to be finalised on Sep 16, 2025. Airfloa Rail Technology is scheduled to list on BSE SME on Sep 18, 2025.
The IPO was priced at ₹140.00 per share with a lot size of 1,000 shares. The public issue received bids for 96,41,35,000 shares against 43,29,000 shares available, resulting in an overall subscription of 222.72 times. QIBs led the response, subscribing 100.87 times their quota, followed by NIIs at 279.69 times and retail investors at 267.77 times.
Airfloa Rail Technology’s ₹91.10 crore IPO, priced at ₹140 per share, was subscribed 222.72 times overall. The issue is entirely a fresh issue of 0.65 crore shares of ₹91.10 crore. Bidding took place from Sep 11, 2025 to Sep 15, 2025, with the Airfloa Rail Technology IPO allotment status on Sep 16, 2025. Retail investors subscribed 267.77 times and NIIs 279.69 times. Listing is expected on Sep 18, 2025.
The table below breaks down the Airfloa Rail Technology share allocation for different categories, highlighting the number of shares and their percentage of the total issue. However, the key focus remains on the quotas allocated to retail investors and HNIs, as they are the most relevant for individual investors.
| Investor Category | Shares Offered |
| Market Maker Shares Offered | 3,26,000 (5.01%) |
| QIB Shares Offered | 30,87,000 (47.44%) |
| − Anchor Investor Shares Offered | 18,52,000 (28.46%) |
| − QIB (Ex. Anchor) Shares Offered | 12,35,000 (18.98%) |
| NII (HNI) Shares Offered | 9,30,000 (14.29%) |
| − bNII > ₹10L | 6,20,000 (9.53%) |
| − sNII < ₹10L | 3,10,000 (4.76%) |
| Retail Shares Offered | 21,64,000 (33.26%) |
| Total Shares Offered | 65,07,000 (100.00%) |
Data Source: NSE
| Category | Subscription (times) |
| Qualified Institutional Buyers | 100.87 |
| Non-Institutional Investors | 279.69 |
| Retail Individual Investors | 267.77 |
| Total shares | 222.72 |
Note: The subscription details are as of September 15, 2025, 2:45 PM.
Incorporated in December 1998, Airfloa Rail Technology Limited is engaged in the manufacturing of components for Indian Railways’ rolling stock, supplying to production units such as the Integral Coach Factory (ICF) and other coach factories.
The company specialises in rolling stock components and turnkey interior projects for Indian Railways, while also producing complex, high-precision parts for the aerospace and defence sectors.
Over the years, Airfloa has contributed to several prestigious projects, including rolling stock parts and interior solutions for Sri Lankan DEMU, Mainline Coaches, Agra-Kanpur Metro, RRTS, Vistadome Coaches, and Train-18 Vande Bharat Express.
As a trusted supplier to Indian Railways, the company plays a significant role in manufacturing precision components and delivering complete interior furnishings for rolling stock. Beyond railways, its expertise extends to aerospace and defence, where it has developed components for advanced projects such as AMCA ground simulators and artillery tank bodies.
Know more about IPO allotment status and check your application details online for the latest updates on share allocation.
Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in the securities market are subject to market risks, read all the related documents carefully before investing.
Published on: Sep 15, 2025, 3:05 PM IST
Nikitha Devi
Nikitha is a content creator with 7+ years of experience in the financial domain. Specialising in personal finance, investments, and market insights, Nikitha simplifies complex financial topics, making them accessible to readers.
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