The allotment status for Airfloa Rail Technology Ltd’s highly subscribed SME IPO is expected to be finalized today, September 16, 2025. Investors who participated in the ₹91.10 crore public issue are eagerly awaiting confirmation of their share allotment, especially as the grey market premium (GMP) has surged to ₹175 per share, indicating a potential listing price of ₹315—an impressive 125% premium over the issue price of ₹140.
The IPO, which opened on September 11 and closed on September 15, witnessed overwhelming demand across all investor categories, with an overall subscription of 301.52 times. The listing is scheduled for September 18 on the BSE SME platform.
Airfloa Rail Technology IPO Snapshot
| IPO Detail | Information |
|---|---|
| IPO Type | SME IPO |
| Issue Size | ₹91.10 crore |
| Price Band | ₹133–₹140 per share |
| Issue Structure | 100% Fresh Issue |
| Shares Offered | 65.07 lakh equity shares |
| Subscription Dates | Sept 11–15, 2025 |
| Allotment Date | Sept 16, 2025 |
| Refunds Initiation | Sept 17, 2025 |
| Credit to Demat Accounts | Sept 17, 2025 |
| Listing Date | Sept 18, 2025 |
| Registrar | KFin Technologies Ltd |
| Lead Manager | GYR Capital Advisors Pvt Ltd |
| Market Maker | Giriraj Stock Broking Pvt Ltd |
Subscription Breakdown by Category
| Investor Category | Subscription (x) |
|---|---|
| Qualified Institutional Buyers (QIB) | 214.65 |
| Non-Institutional Investors (NII) | 349.88 |
| Retail Individual Investors (RII) | 330.31 |
| Overall Subscription | 301.52 |
The IPO’s massive oversubscription reflects strong investor confidence in Airfloa Rail Technology’s business model and growth prospects.
Grey Market Premium (GMP) Trends
| Date | GMP (₹) | Estimated Listing Price (₹) | Premium Over Issue Price (%) |
|---|---|---|---|
| Sept 16, 2025 | ₹175 | ₹315 | 125% |
The GMP indicates robust demand in the unlisted market, suggesting that successful allottees may see substantial listing gains.
Business Overview: Airfloa Rail Technology Ltd
Founded in 1998, Airfloa Rail Technology manufactures critical components for Indian Railways, including train interiors and parts for Integral Coach Factory (ICF), Vistadome Coaches, and the Vande Bharat Express. The company also supplies to international rail projects in Sri Lanka and contributes to metro infrastructure in Agra and Kanpur.
Additionally, Airfloa Rail has diversified into aerospace and defense manufacturing, leveraging its engineering capabilities to serve high-precision sectors.
How to Check Airfloa Rail Technology IPO Allotment Status Online
Investors can check their allotment status through either the BSE website or the IPO registrar’s portal (KFin Technologies Ltd). Here are the steps:
Option 1: Via KFin Technologies
- Visit the KFin Technologies IPO Allotment Page
- Select ‘Airfloa Rail Technology Ltd’ from the dropdown menu
- Choose one of the following: Application Number, PAN, or Demat Account Number
- Enter the relevant details
- Complete the captcha and click ‘Submit’
- Your allotment status will be displayed on the screen
Option 2: Via BSE India
- Go to the BSE IPO Allotment Page
- Select ‘Equity’ under Issue Type
- Choose ‘Airfloa Rail Technology Ltd’ from the Issue Name dropdown
- Enter your Application Number or PAN
- Complete the captcha and click ‘Search’
- View your allotment status
What Happens After Allotment?
| Date | Event |
|---|---|
| Sept 17, 2025 | Refunds initiated for unsuccessful applicants |
| Sept 17, 2025 | Shares credited to successful applicants’ Demat accounts |
| Sept 18, 2025 | Listing on BSE SME platform |
Investors who do not receive allotment will get their refund via UPI or bank transfer, depending on their application mode.
Listing Expectations and Market Sentiment
Given the strong GMP and subscription numbers, analysts expect a blockbuster debut for Airfloa Rail Technology. The company’s niche positioning in railway and defense components, coupled with its export potential, makes it an attractive long-term play.
| Analyst Viewpoint | Summary |
|---|---|
| Strong Fundamentals | Diversified product portfolio |
| High Entry Barriers | Specialized manufacturing |
| Government Backing | Railways and defense contracts |
| SME Platform Advantage | Focused investor base |
Conclusion: All Eyes on Allotment and Listing
With allotment likely to be finalized today, investors are keenly watching their application status amid soaring GMP levels. Airfloa Rail Technology’s IPO has emerged as one of the most sought-after SME issues of the year, and its listing could set the tone for upcoming public offerings in the infrastructure and manufacturing sectors.
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Disclaimer: This article is based on publicly available IPO documents, verified news reports, and market data. It is intended for informational purposes only and does not constitute investment advice. All figures and timelines are subject to change based on official updates.
