AFCOM Holdings Limited IPO Opens On August 02, 2024

● Issue Size – ₹ 73.83 Crores (At Upper Price Band)

● Price Band – ₹ 102 to ₹ 108 Per Share

● Lot Size – 1,200 Equity Shares

The issue size is Up To 68,36,400 equity shares at a face value of ₹ 10 each.

Equity Share Allocation

● QIB Anchor Portion – 18,96,000 Equity Shares

● Qualified Institutional Buyers (QIB) – 13,38,000Equity Shares

● Non-Institutional Investors (NII) – Not less than9,73,200 Equity Shares

● Retail Individual Investors (RII) – Not less than 22,75,200 Equity Shares

● Market Maker – 3,54,000 Equity Shares

The net proceeds from the issue are set to be utilized for capital expenditure on leasing two new aircraft, prepayment or repayment of outstanding borrowings, funding working capital requirements, and general corporate purposes. Bidding for the anchor portion will open on August 01, 2024, with the issue opening for subscription on August 02, 2024, and closing on August 06, 2024.

The Book Running Lead Manager to the Issue is GYR Capital Advisors Private Limited & The Registrar to the Issue is Link Intime India Private Limited.

Capt. Deepak Parasuraman, Chairman & Managing Director of AFCOM Holdings Limited expressed, “We are delighted to announce our upcoming IPO, a significant milestone that will propel our growth and innovation in the cargo logistics sector. Our strategic focus on the ASEAN region, especially Singapore, Indonesia, and Brunei, has enabled us to establish a strong and reliable network. Our experienced management team, led by Capt. Deepak Parasuraman and Wg. Cdr. Jaganmohan Mathena (Retd), both with extensive years of experience in the aviation industry, alongside Kannan Ramakrishnan’s expertise in automobile retail, has been crucial to our success. Our business model focuses on airport-to-airport cargo carriage and is guided by our core principles: People-centricity, Growth through partnership, and Efficiency. These principles ensure we prioritize our customers, foster cooperative growth, and maintain operational efficiency.

Our upcoming IPO is an opportunity to scale operations, invest in advanced technologies, and continue delivering innovative solutions to meet the evolving needs of our customers. We look forward to your continued support as we embark on this new chapter. “

Mr. Mohit Baid, Director of GYR Capital Advisors Private Limited said, ” we are proud to support a company that is strategically positioned within the rapidly expanding cargo logistics sector. The global air cargo market is experiencing significant growth, driven by increased e-commerce activity, cross-border trade, and the ongoing globalization of supply chains. In the ASEAN region, where this company has a strong operational focus, the demand for efficient and reliable cargo solutions is particularly high. The company’s experienced leadership in the aviation industry, coupled with its innovative business model and strong partnerships with General Sales and Service Agents (GSSAs) across key regions, positions it well to capitalize on the burgeoning opportunities in the market. Their focus on operational efficiency, customer-centric solutions, and strategic partnerships underscores their potential for sustained growth.

We believe in the company’s vision and are confident in their ability to deliver strong returns as they continue to expand their footprint and enhance their service offerings. This IPO marks a significant step in the company’s journey, and we look forward to the success that lies ahead.”

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