Afcom Holdings Limited IPO Detail
Incorporated in Feburary 2013, Afcom Holdings Limited is involved in transporting cargo on an airport-to-airport basis. The company has General Sales and Service Agents (GSSAs) in India, Hong Kong, Singapore, Thailand, Japan, South Korea, China, and Taiwan.
The company operates cargo flights to the ASEAN (Association of Southeast Asian Nations) countries, including Singapore, Indonesia, and Brunei, with a focus on Singapore.
The company signed an agreement on 24 September 2021 with the Air Logistics Group, a division of World Freight Company, a global leader in the cargo sales and service business. The Air Logistics group will act as the Company's General Sales and Service Agent (GSSA) in far-eastern countries. Additionally, on 13 October 2022, the company agreed with Taylor Logistics Private Limited, a part of the TTK Group, to serve as the GSSA in India.
As of February 29, 2024, the company has 47 employees, including 21 crews. Among them, they have 10 captains, 6 first officers, 3 Transition Captains, and 2 Trainee First Officers.
Company Promoters
The promoter of the company are Capt. Deepak Parasuraman, Mr. Kannan Ramakrishnan, Wg. Cdr. Jaganmohan Mathena (Retd) and Mrs. Manjula Annamalai.IPO Details
| IPO Opening Date | Aug 02, 2024 |
| IPO Closing Date | Aug 06, 2024 |
| Issue Type | Book Built Issue IPO |
| Face Value | ₹10 per equity share |
| IPO Price | ₹102 - 108 per equity share |
| Market Lot | 1200 Shares |
| Min Order Quantity | 1200 Shares |
| Listing At | BSE SME |
| Issue Size | ₹73.83 Cr |
| Fresh Issue | 6,836,400 shares (aggregating up to ₹73.83 Cr) |
| Offer for Sale | - |
| Retail Portion | 35% |
IPO Subscription (Bidding Detail)
| AS On | QIB | SHNI | BHNI | NII | RII | TOTAL |
|---|---|---|---|---|---|---|
| Day 1 | 0.00x | 0.00x | 0.00x | 3.36x | 6.59x | 3.98x |
| Day 2 | 3.49x | 0.00x | 0.00x | 44.86x | 52.73x | 36.69x |
| Day 3 | 186.23x | 0.00x | 0.00x | 697.88x | 202.83x | 303.03x |
IPO Tentative Timetable
The Afcom Holdings Limited IPO open date is Aug 02, 2024, and the close date is Aug 06, 2024. The issue may list on Aug 09, 2024.
| IPO Open Date | Aug 02, 2024 |
| IPO Close Date | Aug 06, 2024 |
| Basis of Allotment Date | Aug 07, 2024 |
| Initiation of Refunds | Aug 08, 2024 |
| Credit of Shares to Demat Account | Aug 08, 2024 |
| IPO Listing Date | Aug 09, 2024 |
IPO Lot Size
The Afcom Holdings Limited IPO market lot size is 1200 shares. A retail-individual investor can apply for up to 1 lots (1200 shares or ₹129600).
| Application | Lots | Shares | Amount (Cut-off) |
|---|---|---|---|
| Minimum | 1 | 1200 | ₹129600 |
| Maximum | 1 | 1200 | ₹129600 |
IPO Promoter Holding
| Pre Issue Share Holding | 58.94% |
| Post Issue Share Holding |
Company Financials:
For the year/period ended (₹ in Lakhs)
| Financial Year | Total Assets | Total Revenue | Profit After Tax |
|---|---|---|---|
| 29-Feb-24 | 12929.75 | 13416.38 | 2310.37 |
| 31-Mar-23 | 8285.40 | 8490.12 | 1358.62 |
| 31-Mar-22 | 2514.51 | 4866.97 | 514.80 |
Objects of the Issue:
The objects of the Issue are: -
- Funding Capital Expenditure towards taking of two new aircraft on Lease basis;
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
- Funding of working capital requirement
- General Corporate Purposes
- To meet the Issue Expenses
Afcom Holdings Limited IPO Registrar:
Link Intime India Private Ltd
Afcom Holdings Limited IPO Lead Manager(s):
GYR Capital Advisors Private Limited
Company Contact Information:
Afcom Holdings Limited
2, LIC Colony Dr. Radhakrishnan Nagar Thiruvanmiyur
Chennai
Chennai
