Afcom Holdings IPO closes with strong demand, booked over 281 times on last day; check details

Afcom Holdings IPO (Afcom Holdings Limited) subscription window closed on Tuesday, August 6, with a bumper demand across categories. The BSE SME issue was booked over 281 times on the final day of bidding.

Afcom Holdings IPO received bids for over 139.01 crore shares compared to the 49.4 lakh shares offered for subscription, leading to an overall subscription of 281.39 times.

The demand for the Afcom Holdings IPO was led by Non-Institutional Investors (NIIs), as the category was booked 512 times. NIIs placed bids for over 67.95 crore compared to the 13.27 lakh shares reserved for the category. The Afcom Holdings IPO was subscribed 202.83 times in the retail category, with applications for over 46.14 crore shares against 22.75 lakh shares set aside for the category.

Qualified Institutional Buyers (QIBs) applied for over 24.91 crore shares, compared to the 13.38 lakh shares reserved for the category. The QIBs category was subscribed 186.23 times.

Afcom Holdings IPO issue size and other details

Afcom Holdings IPO, valued at ₹78.83 crore, comprised an entirely fresh issue of 68.36 lakh shares.

Afcom Holdings IPO price band was fixed at ₹102 to ₹108 per share. The minimum lot size for retail investors was fixed at 1,200 shares, which aggregates to an investment of ₹1,29,600.

The subscription window for the Afcom Holdings IPO was open from August 2 to August 6. The share allotment status is expected to be finalised on August 7. Refunds will be initiated for unsuccessful bidders on August 8, and shares of Afcom Holdings will be credited into the Demat accounts of successful bidders the same day. Afcom Holdings shares are likely to list on the BSE SME platform on Friday, August 9.

Afcom Holdings IPO Objective

Afcom Holdings plans to use the money raised via the public issue to finance the leasing of two new aircraft. A portion of the proceeds will also be used for prepayment or repayment of the company’s borrowings. Additionally, the money will be used to fund the company's working capital requirements, general corporate purposes, and issue expenses.

About Afcom Holdings

Afcom Holdings Limited was incorporated in February 2013. The company transports cargo on an airport-to-airport basis and has General Sales and Service Agents (GSSAs) in multiple countries, such as India, Hong Kong, Singapore, Thailand, Japan, South Korea, China, and Taiwan.