By Admin 
Airfloa IPO Listing: There is no confidence that when the investment in the stock market is amazing. Today we have given you a strong return to its investors. Here the shares of Airflow Rail Tech are being talked about, which has made investors fun on their listing. The IPO’s listing on BSE SME platform was on a premium of 90 percent. With this, the company made its bang in the market.
IPO gets more than 300 times subscription
The issue of Rs 91.10 crore was more than 300 times subscription in the primary market between 11-15 September. Airflow Rail Technology shares were listed at Rs 266 per share on BSE, while its issue price was Rs 140. The listing of 90 percent profit has been imposed by investors. After the listing of shares, the company’s market cap reached 637.60 crores. The listing of the IPO of Airflow Rail Tech was almost equal to expectations in the gray market. In the gray market, the company’s shares were traded on the GMP of 125 percent, which indicates more profits on the listing.
How much is the gray market premium?
The listing of the IPO of Airflow Rail Tech was almost equal to expectations in the gray market. The GMP of the company’s shares in the irregular market was 125 percent, which reflects the maximum listing profit. According to SEBI rules, there is a rule for the SME platform’s Initial Public Offers (IPOs) to put a total sealing of up to 90 % from the issue price at the issue price.
What will the company do for the amount received from IPO?
Tamil Nadu based company Airflow Rail Tech has two manufacturing facilities in Chennai and Kanchipuram. The 1998 company produces forged and machinery components for rolling stock, aerospace and defense sector. Apart from this, the Terni Railway also handles the functioning of interior projects. Out of the amount received from the IPO, Rs 13.7 crore will be used in purchasing machinery, Rs 59.3 crore for working capital, Rs 6 crore for payment of dues. While the remaining money will be kept separate for normal corporate purposes.
Disclaimer: (The information provided here is being given only for information. It is necessary to tell here that the investment in the market is subject to risks. Always consult expert before investing as an investor. Abplive.com is never advised to invest money here.)
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