Afcom Holdings was incorporated on 15 February 2013. The company is engaged in the carriage of cargo on an airport-to-airport basis. It has been operating Cargo Flights to the ASEAN countries like Singapore, Indonesia, and Brunei, particularly to Singapore.
| Bidding Dates |
|---|
| 02 Aug 2024 - 06 Aug 2024 |
| Subscription |
|---|
| 281.39x Oversubscribed |
| Minimum Investment | Minimum Lot | Maximum Lot | Lot Size | Number of Shares | Issue Price Band | Post Issue Promoter Holding % | Issue Size | IPO Document |
|---|---|---|---|---|---|---|---|---|
| ₹1,22,400 | 1 | 1 | 1200 | 6.8 M | ₹102 - ₹108 | 42.73 % | ₹697.3 M - ₹738.3 M | RHP DOC |
Afcom Holdings IPO SUBSCRIPTION STATUS
06 Aug '24Afcom Holdings IPO overall subscription rate was 281.39 times the total available shares
Afcom Holdings IPO retail subscription rate was 202.83 times in the retail segment
Afcom Holdings IPO non-institutional investor subscription rate was 512 times in the non-institutional investor category
Afcom Holdings IPO Qualified Institutional Bidder subscription rate was 186.23 times the available shares for Qualified Institutional Bidder
| Day | Retail Individual Investor | HNI (NII) Investors | Qualified Institutional Buyers |
|---|---|---|---|
| Category Reservation | 35% | 15% | 50% |
06 Aug 2024 (Day 3) | 202.83x | 512x | 186.23x |
05 Aug 2024 (Day 2) | 52.73x | 33.16x | 3.49x |
02 Aug 2024 (Day 1) | 6.59x | 2.47x | 0x |
Afcom Holdings FINANCIALS
| Period | Net Profit (Rs in millions) | Revenue from Operations (Rs in millions) | Cash Flow from Operations (Rs in millions) | Free Cash Flow (Rs in millions) | Margins |
| 11MFY24 | 231.0 | 1,337.0 | -217.9 | -217.9 | 24.6% |
| FY23 | 135.9 | 841.4 | -189.4 | -189.4 | 22.6% |
| FY22 | 51.5 | 482.7 | -37.4 | -37.4 | 20.4% |
| FY21 | -42.0 | 138.9 | -132.2 | -132.2 | 43.1% |
Afcom Holdings IPO SUBSCRIPTION STATUS DETAILS
Afcom Holdings had 6.8 M shares on offer
Afcom Holdings IPO offer price was in the range ₹102 - ₹108
Afcom Holdings IPO minimum Investment was ₹122400
Afcom Holdings IPO issue size was ₹ 697.3 M - ₹ 738.3 M
Afcom Holdings had a minimum lot size of 1200 Shares per application
Afcom Holdings NUMBER OF SHARES ON OFFER
Afcom Holdings IPO IMPORTANT DATES
| Issue Open Date | 02 Aug 2024 |
| Issue close Date | 06 Aug 2024 |
| Allotment Date | 07 Aug 2024 |
| Refund Date | 07 Aug 2024 |
| Demat Account Credit Date | 08 Aug 2024 |
| Listing Date | 09 Aug 2024 |
| Listing on Exchange(s) | BSE |
| Afcom Holdings Allotment Status | Exchange |
Afcom Holdings IPO subscription opened on 02 Aug 2024, and closed on 06 Aug 2024
IPO allotment for Afcom Holdings was finalized on Wednesday, 07 Aug 2024
IPO listing for Afcom Holdings was on BSE on Friday, 09 Aug 2024
Afcom Holdings IPO LISTING GAINS
| Issue Price (adjusted) | 108.0 |
| Listing Open Price | 205.2 |
| Listing Close Price | 215.4 |
| Listing Gain% | 90.0% |
| Current Gain% | 1222.5% |
Afcom Holdings Peer
| Stock | Stock Price | Market Cap (Rs crore) | PE TTM | PEG TTM | PS TTM | ROE% | ROA% | Annual Revenue (Rs crore) | Annual Revenue Growth % | Annual Net Profit (Rs crore) | Annual Net Profit Growth % | EPS TTM | EPS TTM Growth % |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Afcom Holdings Ltd. | 1428.3 | 3550.4 | 30.5 | 0.1 | 5.3 | 26.7 | 13 | 587.7 | 142.3 | 121.9 | 151.8 | 46.8 | 241.2 |
| Container Corporation of India Ltd. | 505.2 | 38476.9 | 31 | -7.3 | 4.2 | 9.6 | 8.2 | 9443.2 | 1.2 | 1241.8 | -3.6 | 16.3 | -4.2 |
| Delhivery Ltd. | 473.3 | 35452.8 | 379 | -7.2 | 3.2 | 1.6 | 1.2 | 10867 | 16 | 152.7 | -5.8 | 1.2 | -52.9 |
| Shadowfax Technologies Ltd. | 241.2 | 14120.3 | 83.5 | 3 | 6.4 | 3.9 | 4238.6 | 68.6 | 111.7 | 1638.4 | 2.9 | ||
| Blue Dart Express Ltd. | 5089.5 | 12076.3 | 42.1 | 2.7 | 1.9 | 13.9 | 6 | 6182.8 | 7.3 | 247.4 | -2 | 121 | 15.8 |
| VRL Logistics Ltd. | 281.4 | 4921.9 | 18.4 | 0.8 | 1.5 | 20.7 | 9.1 | 3244.8 | 1.8 | 236.8 | 29.5 | 15.3 | 21.8 |
Afcom Holdings INFORMATION ON IPO ISSUE
About Afcom Holdings
Afcom Holdings was incorporated on 15 February 2013. The company is engaged in the carriage of cargo on an airport-to-airport basis. It has been operating Cargo Flights to the ASEAN countries like Singapore, Indonesia, and Brunei, particularly to Singapore.
Object of the Issue
- Funding capital expenditure towards taking of two new aircraft on a lease basis
- Prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company
- Funding of working capital requirement
- General corporate purposes
- To meet issue expenses
Afcom Holdings - PROMOTERS
| Name |
|---|
| Deepak Parasuraman |
| Kannan Ramakrishnan |
| Jaganmohan Mathena |
| Manjula Annamalai |
Afcom Holdings Lead Manager of the Issue
GYR Capital Advisors Private Limited
info@gyrcapitaladvisors.com
Afcom Holdings Registrar to the issue
Link Intime India Private Limited
afcomholdings.ipo@linkintime.co.in
Afcom Holdings Strengths
Well equipped to handle hazardous cargo
The company is well equipped to handle hazardous cargo, which is highly specialised, regulated and requires approvals from the Directorate General of Civil Aviation (DGCA), as well as strict adherence to international safety standards.
Early-mover advantage
It operates in a highly regulated industry that requires considerable expertise and experience to qualify to carry out business. The company has achieved an early-mover advantage in this area and has all the necessary clearances, infrastructure, and operational background.
Afcom Holdings Risks
Dependent on few customers
A majority of its revenue from operations is contributed by its top five customers. Any loss of business from one or more of them may adversely affect revenues and profitability.
Licenses disapproval
The company requires certain approvals and licenses in the ordinary course of business and the failure to successfully obtain/renew such registrations would adversely affect its operations and financial condition.
IPO FAQs
The promoters of the company are Deepak Parasuraman, Kannan Ramakrishnan, Jaganmohan Mathena and Manjula Annamalai.
The category allocation of qualified institutional buyers is 50.0%, the category allocation of non individual investors or high networth individuals is 15.0% and for retail investors it is 35.0%.
The price band of the IPO is Rs 102.0 - 108.0.
The IPO application opens on Aug 02, 2024 and closes on Aug 06, 2024.
The minimum lot size for the IPO is 1200. The maximum lot size for the IPO is 1200.
For all category investors, the minimum application amount for this IPO is Rs. 122,400.0, the maximum value for this IPO is Rs 129,600.0.
This IPO will be allotted on Aug 07, 2024.
The refund will be credited to your account on Aug 07, 2024.
The allotted shares will be credited to your demat on Aug 08, 2024.
Afcom Holdings Ltd.’s shares listed on the stock exchanges on Aug 09, 2024.