Afcom Holdings IPO is a book built issue of Rs 73.83 crores. The issue is entirely a fresh issue of 68.36 lakh shares.

Afcom Holdings IPO opens for subscription on August 2, 2024 and closes on August 6, 2024. The allotment for the Afcom Holdings IPO is expected to be finalized on Wednesday, August 7, 2024. Afcom Holdings IPO will list on BSE SME with tentative listing date fixed as Friday, August 9, 2024.

Afcom Holdings IPO price band is set at ₹102 to ₹108 per share. The minimum lot size for an application is 1200 Shares. The minimum amount of investment required by retail investors is ₹129,600. The minimum lot size investment for HNI is 2 lots (2,400 shares) amounting to ₹259,200.

GYR Capital Advisors Private Limited is the book running lead manager of the Afcom Holdings IPO, while Link Intime India Private Ltd is the registrar for the issue. The market maker for Afcom Holdings IPO is Giriraj Stock Broking.

Refer to Afcom Holdings IPO RHP for detailed information.

Afcom Holdings IPO 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
Giriraj Stock Broking

Afcom Holdings IPO Reservation

Investor Category Shares Offered
QIB Shares Offered Not more than 50% of the Net Issue
Retail Shares Offered Not less than 35% of the Net Issue
NII (HNI) Shares Offered Not less than 15% of the Net Issue

Afcom Holdings IPO Anchor Investors Details

Afcom Holdings IPO raises Rs 20.48 crore from anchor investors. Afcom Holdings IPO Anchor bid date is July 1, 2024.

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 IPO Timeline (Tentative Schedule)

Afcom Holdings IPO opens on August 2, 2024, and closes on August 6, 2024.

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 IPO Lot Size

Investors can bid for a minimum of 1200 shares and in multiples thereof. The below table depicts the minimum and maximum investment by retail investors and HNI in terms of shares and amount.

Application Lots Shares Amount
Retail (Min) 1 1200 ₹129,600
Retail (Max) 1 1200 ₹129,600
HNI (Min) 2 2,400 ₹259,200
Lot Size Calculator

Afcom Holdings IPO Promoter Holding

The promoter of the company are Capt. Deepak Parasuraman, Mr. Kannan Ramakrishnan, Wg. Cdr. Jaganmohan Mathena (Retd) and Mrs. Manjula Annamalai.

Share Holding Pre Issue 58.94%
Share Holding Post Issue  

About Afcom Holdings Limited

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.

 

Afcom Holdings Limited Financial Information (Restated)

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

Key Performance Indicator

The market capitalization of Afcom Holdings IPO is Rs 268.46 Cr.

KPI as of February 29, 2024.

KPI Values
ROE 26.53%
ROCE 28.30%
Debt/Equity 0.15
RoNW 22.90%
P/BV 1.93
PAT Margin (%) 17.28

Check Afcom Holdings IPO Peer Comparison here.

  Pre IPO Post IPO
EPS (Rs)  7.54 10.14
P/E (x)  14.33 10.65

Note:

  • The Pre IPO EPS is calculated based on Pre issue shareholding as on date of RHP and the latest FY earnings as of March 31, 2023 that is available in RHP.
  • The Post Issue EPS is calculated based on the Post issue shareholding and annualized FY earnings of February 29, 2024 that is available in RHP.

Objects of the Issue (Afcom Holdings IPO Objectives)

The objects of the Issue are: –

  1. Funding Capital Expenditure towards taking of two new aircraft on Lease basis;
  2. Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
  3. Funding of working capital requirement
  4. General Corporate Purposes
  5. To meet the Issue Expenses

Afcom Holdings IPO Prospectus

Afcom Holdings Limited Contact Details

Afcom Holdings Limited
2, LIC Colony Dr. Radhakrishnan Nagar
Thiruvanmiyur
Chennai-600041
Phone: +91-9841019204;
Email: corporate@afcomcargo.com
Websitehttps://afcomcargo.com/

Afcom Holdings IPO Registrar

Link Intime India Private Ltd

Phone: +91-22-4918 6270
Email: afcomholdings.ipo@linkintime.co.in
Websitehttps://linkintime.co.in/initial_offer/public-issues.html