{"id":29510,"date":"2024-07-31T15:39:04","date_gmt":"2024-07-31T10:09:04","guid":{"rendered":"https:\/\/livemumbai.in\/index.php\/2024\/07\/31\/afcom-holdings-limited-ipo-opens-on-august-02-2024\/"},"modified":"2024-07-31T15:39:04","modified_gmt":"2024-07-31T10:09:04","slug":"afcom-holdings-limited-ipo-opens-on-august-02-2024","status":"publish","type":"post","link":"https:\/\/livemumbai.in\/index.php\/2024\/07\/31\/afcom-holdings-limited-ipo-opens-on-august-02-2024\/","title":{"rendered":"AFCOM Holdings Limited IPO Opens On August 02, 2024"},"content":{"rendered":"<div>\n<div>\n<p><strong>Mumbai (Maharashtra) [India], July 31:<\/strong> AFCOM Holdings Limited,\u00a0a\u00a0key player in India\u2019s\u00a0Aviation\u00a0Industry\u00a0operating\u00a0in cargo flights to ASEAN countries with Singapore as its hub, has announced plans to go public with an Initial Public Offering (IPO) on\u00a0August 02, 2024, aiming to raise\u00a0\u20b9\u00a073.83\u00a0crores at the upper band, with shares set to be listed on the\u00a0BSE SME\u00a0platform.<\/p>\n<p>\u25cf Total Issue Size \u2013 Up To 68,36,400 Equity Shares of \u20b9 10 each<\/p>\n<p>\u25cf Issue Size \u2013 \u20b9 73.83 Crores (At Upper Price Band)<\/p>\n<p>\u25cf Price Band \u2013 \u20b9 102 to \u20b9 108 Per Share<\/p>\n<p>\u25cf Lot Size \u2013 1,200 Equity Shares<\/p>\n<p>The issue size is\u00a0Up To\u00a068,36,400\u00a0equity shares at\u00a0a\u00a0face value of\u00a0\u20b9\u00a010\u00a0each.<\/p>\n<p><strong>Equity Share Allocation<\/strong><\/p>\n<p>\u25cf\u00a0QIB Anchor Portion\u00a0\u2013\u00a018,96,000\u00a0Equity\u00a0Shares<\/p>\n<p>\u25cf\u00a0Qualified Institutional Buyers (QIB)\u00a0\u2013<a><\/a>\u00a013,38,000Equity\u00a0Shares<\/p>\n<p>\u25cf\u00a0Non-Institutional Investors (NII)\u00a0\u2013\u00a0Not less than9,73,200\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Retail Individual Investors (RII)\u00a0\u2013\u00a0Not less than\u00a022,75,200\u00a0Equity Shares<\/p>\n<p>\u25cf\u00a0Market Maker\u00a0\u2013\u00a03,54,000\u00a0Equity Shares<\/p>\n<p>The net proceeds from the issue are set to be\u00a0utilized for\u00a0capital expenditure on leasing two new aircraft, prepayment or repayment of outstanding borrowings, funding working capital requirements,\u00a0and\u00a0general corporate purposes. Bidding for the anchor portion will open on\u00a0<a><\/a>August 01, 2024, with the issue opening for subscription on\u00a0August 02, 2024, and closing on\u00a0<a><\/a>August\u00a006, 2024.<\/p>\n<p>The\u00a0Book Running\u00a0Lead Manager to the Issue is\u00a0GYR Capital Advisors Private Limited\u00a0&amp;\u00a0The Registrar to the Issue\u00a0is\u00a0Link Intime India Private Limited.<\/p>\n<p>Capt. Deepak Parasuraman,\u00a0Chairman &amp; Managing Director\u00a0of\u00a0AFCOM Holdings Limited\u00a0expressed,\u00a0\u201cWe 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.\u00a0Our experienced management team, led by Capt. Deepak Parasuraman and Wg. Cdr. Jaganmohan Mathena (Retd), both with\u00a0extensive years of experience\u00a0in the aviation industry, alongside Kannan Ramakrishnan\u2019s expertise in automobile retail, has been crucial to our success.\u00a0Our business model focuses on airport-to-airport cargo carriage and is guided by our core principles: People-centricity,\u00a0Growth through partnership, and Efficiency. These principles ensure we prioritize our customers, foster cooperative growth, and maintain operational efficiency.<\/p>\n<p>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.\u00a0\u201c<\/p>\n<p>Mr.\u00a0Mohit Baid,\u00a0Director\u00a0of\u00a0GYR Capital Advisors Private Limited\u00a0said,\u00a0\u201d 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\u00a0high. The company\u2019s 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.<\/p>\n<p>We believe in the company\u2019s 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\u2019s journey, and we look forward to the success that lies ahead.\u201d<\/p>\n<p><em>If you have any objection to this press release content, kindly contact pr.error.rectification@gmail.com to notify us. We will respond and rectify the situation in the next 24 hours.<\/em><\/p>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Mumbai (Maharashtra) [India], July 31: AFCOM Holdings Limited,\u00a0a\u00a0key player in India\u2019s\u00a0Aviation\u00a0Industry\u00a0operating\u00a0in cargo flights to ASEAN countries with Singapore as its hub, has announced plans to [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":29511,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2],"tags":[623],"class_list":["post-29510","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business"],"_links":{"self":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts\/29510","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/comments?post=29510"}],"version-history":[{"count":0,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/posts\/29510\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/media\/29511"}],"wp:attachment":[{"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/media?parent=29510"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/categories?post=29510"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/livemumbai.in\/index.php\/wp-json\/wp\/v2\/tags?post=29510"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}