Afcom Holdings Limited IPO

Afcon Holding  Limited IPO  opens on August 2, 2024, and closes on August 6, 2024. The allotment for the Afcon Holding IPO   is anticipated to be completed on Wednesday, August 7, 2024. The IPO will be listed on the BSE and SME, with a tentative date of Friday, August 9,2024.

The price band for the Afcon Holding  IPO is set at Rs 102 to Rs 108 per share. The IPO is a book-built issue of Rs 73.83 crores, entirely a fresh issue of 68.36 lakh shares.

Afcom Holdings IPO Details

Afcom Holdings IPO Lot Size

Afcom Holdings IPO Objectives

The objectives of the Issue are:

1. Funding Capital Expenditure towards taking of two new aircraft on a 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. To meet the Issue Expenses
5. General corporate purposes.

About Afcom Holdings Limited

Incorporated in February 2013, Afcom Holdings Limited specializes in transporting cargo on an airport-to-airport basis. The company has established a network of General Sales and Service Agents (GSSAs) in India, Hong Kong, Singapore, Thailand, Japan, South Korea, China, and Taiwan. It operates cargo flights to ASEAN countries, including Singapore, Indonesia, and Brunei, with a particular focus on Singapore. On September 24, 2021, Afcom Holdings Limited signed an agreement with the Air Logistics Group, a division of World Freight Company, which acts as the company’s General Sales and Service Agent (GSSA) in far-eastern countries. Additionally, on October 13, 2022, the company agreed with Taylor Logistics Private Limited, a part of the TTK Group, to serve as its GSSA in India. As of February 29, 2024, Afcom Holdings Limited employs 47 people, including 21 crew members, comprising 10 captains, 6 first officers, 3 transition captains, and 2 trainee first officers.

Afcom Holdings Limited Financial Information

Afcom Holdings IPO Reservation

Afcom Holdings IPO Timeline 

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

Conclusion

The Afcom Holdings IPO, set to open on August 2, 2024, and close on August 6, 2024, offers an attractive investment opportunity with a price band of Rs 102 to Rs 108 per share. The IPO aims to raise Rs 73.83 crores through a fresh issue of 68.36 lakh shares, with key objectives including funding capital expenditure for leasing new aircraft, repaying certain borrowings, and covering working capital needs. The company’s strong financial growth, robust network of General Sales and Service Agents (GSSAs) across Asia, and strategic partnerships highlight its potential. Investors can look forward to the IPO’s listing on the BSE and SME on August 9, 2024, making it a notable event in the market.