Afcom Holdings is launching an IPO valued at Rs 73.83 crores, consisting entirely of a fresh issue of 68.36 lakh shares.
The IPO subscription period is from August 2, 2024, to August 6, 2024. The allotment is expected to be finalized on Wednesday, August 7, 2024, and the shares are scheduled to list on the BSE SME on Friday, August 9, 2024.
The price band for Afcom Holdings IPO is set between ₹102 and ₹108 per share. The minimum application size is 1,200 shares, requiring a minimum investment of ₹129,600 for retail investors. High Net Worth Individuals (HNI) must invest in at least 2 lots, totaling 2,400 shares, which amounts to ₹259,200.
- Book Running Lead Manager – GYR Capital Advisors Private Limited.
- Registrar of the Issue – Link Intime India Private Ltd.
- Market Maker – Giriraj Stock Broking.
Below are the details of Afcom Holdings IPO 2024 Details, Timeline, Lot Size, Anchor Investor, and Promoter Holding.
Track All IPOs opening and closing today on our comprehensive list of IPO Watchlist 2024!
Afcom Holdings IPO 2024 Details
| Attribute | Details |
|---|---|
| IPO Date | August 2, 2024 to August 6, 2024 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Price Band | ₹102 to ₹108 per share |
| Lot Size | 1200 Shares |
| Total Issue Size | 6,836,400 shares (aggregating up to ₹73.83 Cr) |
| Fresh Issue | 6,836,400 shares (aggregating up to ₹73.83 Cr) |
| Issue Type | Book Built Issue IPO |
| Listing At | BSE SME |
| Share holding pre issue | 18,021,306 |
| Share holding post issue | 24,857,706 |
| Market Maker portion | 354,000 shares |
Afcom Holdings IPO 2024 Timeline
| Events | Timeline |
|---|---|
| IPO Open Date | Friday, August 2, 2024 |
| IPO Close Date | Tuesday, August 6, 2024 |
| Basis of Allotment | Wednesday, August 7, 2024 |
| Initiation of Refunds | Thursday, August 8, 2024 |
| Credit of Shares to Demat | Thursday, August 8, 2024 |
| Listing Date | Friday, August 9, 2024 |
| Cut-off time for UPI mandate confirmation | 5 PM on August 6, 2024 |
Afcom Holdings Limited IPO Lot Size
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 1200 | ₹129,600 |
| Retail (Max) | 1 | 1200 | ₹129,600 |
| HNI (Min) | 2 | 2,400 | ₹259,200 |
Afcom Holdings IPO 2024 Reservation
| Investor Category | Shares Offered |
|---|---|
| Anchor Investor Shares Offered | 1,896,000 (27.73%) |
| Market Maker Shares Offered | 354,000 (5.18%) |
| QIB Shares Offered | 1,338,000 (19.57%) |
| NII (HNI) Shares Offered | 973,200 (14.24%) |
| Retail Shares Offered | 2,275,200 (33.28%) |
| Total Shares Offered | 6,836,400 (100%) |
Afcom Holdings IPO Anchor Investors
| Bid Date | July 1, 2024 |
| Shares Offered | 1,896,000 |
| Anchor Portion Size (In Cr.) | 20.48 |
| Anchor lock-in period end date for 50% shares (30 Days) | September 6, 2024 |
| Anchor lock-in period end date for remaining shares (90 Days) | November 5, 2024 |
Afcom Holdings Limited IPO Promoters
The promoters of the company are Capt. Deepak Parasuraman, Mr. Kannan Ramakrishnan, Wg. Cdr. Jaganmohan Mathena (Retd) and Mrs. Manjula Annamalai.
Afcom Holdings IPO 2024 Financial Information
| Period Ended | 29 Feb 2024 | 31 Mar 2023 | 31 Mar 2022 | 31 Mar 2021 |
| Assets | 12,929.75 | 8,285.40 | 2,514.51 | 899.92 |
| Revenue | 13,416.38 | 8,490.12 | 4,866.97 | 1,388.72 |
| Profit After Tax | 2,310.37 | 1,358.62 | 514.80 | -420.31 |
| Net Worth | 10,087.71 | 7,330.56 | 2,181.65 | -337.19 |
| Reserves and Surplus | 8,285.58 | 5,570.19 | 1,931.78 | -549.95 |
| Total Borrowing | 1,547.50 | 47.60 | 3.83 | 1,471.32 |
| Amount in ₹ Lakhs | ||||
Afcom Holdings Limited IPO Review
Afcom Holdings Ltd. (AHL) specializes in airport-to-airport cargo transportation, adhering to principles of customer focus, integrity, and innovation. Utilizing General Sales and Service Agents (GSSAs) in key regions, AHL ensures effective cargo handling and logistics support. The company has agreements ensuring GSSAs provide at least 50% of its cargo volume and also collaborates with freight forwarders and cargo sales agents. AHL aims to offer flexible and reliable supply chain solutions, serving a diverse clientele across various industries.
The company is launching an IPO to raise Rs 73.83 crores, with a price band of Rs 102-108 per share, open from August 2 to 6, 2024. The proceeds will fund new aircraft, debt repayment, and working capital. Financially, AHL has shown significant growth, with revenues rising from Rs 13.89 crore in FY21 to Rs 134.16 crore in the 11 months ending February 29, 2024. Despite initial losses, the company achieved a net profit of Rs 23.10 crore in FY24. AHL’s post-IPO market cap is projected at Rs 268.46 crore, and the issue is considered reasonably priced, making it a viable investment for the medium to long term.