IPO Details
Bidding Dates
02 Aug '24 - 06 Aug '24
Minimum Investment
₹129,600 / 1 Lot (1,200 Shares)
Price Range
₹102 - ₹108
Maximum Investment
₹129,600 / 1 Lot (1,200 Shares)
Retail Discount
To be announced
Issue Size
₹73.83 Cr
Investor category and sub category
Qualified Institutional Buyers | Retail Individual Investors | Non-institutional Investors |IPO Dates
Important dates with respect to IPO allotment and listing
IPO Open Date
Aug 2, 2024
IPO Close Date
Aug 6, 2024
Basis of Allotment
Aug 7, 2024
Initiation of Refunds
Aug 8, 2024
Credit of Shares to Demat
Aug 8, 2024
Listing Date
Aug 9, 2024
Cut-off time for UPI mandate confirmation
Aug 6, 2024
About Afcom Holdings Limited
Afcom Holdings Limited, incorporated in February 2013, specialises in transporting cargo on an airport-to-airport basis. The company has established General Sales and Service Agents (GSSAs) across key markets, including India, Hong Kong, Singapore, Thailand, Japan, South Korea, China, and Taiwan.
Afcom Holdings operates cargo flights primarily to ASEAN countries, with a notable emphasis on Singapore. On 24 September 2021, the company entered into an agreement with the Air Logistics Group, a division of World Freight Company, to act as its GSSA in far-eastern countries. Furthermore, on 13 October 2022, Afcom Holdings partnered with Taylor Logistics Private Limited, a member of the TTK Group, designating them as the GSSA for India.
As of February 29, 2024, Afcom Holdings employs 47 individuals, including 21 crew members. The crew comprises 10 captains, 6 first officers, 3 transition captains, and 2 trainee first officers.
Through strategic partnerships and a dedicated workforce, Afcom Holdings Limited has strengthened its position in the cargo transportation industry, ensuring efficient and reliable services across its extensive network.
Industry Outlook:
- The Indian logistics sector, valued at US$250 billion in 2021, is projected to reach US$380 billion by 2025, growing at a 10%-12% annual rate.
- The logistics sector contributes 14.4% to India's GDP and employs 22 million people, highlighting its critical role in supporting various businesses.
Afcom Holdings Limited IPO Objectives
The company plans to allocate the net proceeds from the issuance to the following purposes:
- 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 out the Issue Expenses.
Peer Details
The company Afcom Holdings Limited does not consider any listed company in India or abroad as its peers.
How to Check the Allotment Status of the Afcom Holdings Limited IPO?
Steps to check IPO allotment status on Angel One’s app:
- Log in to the Angel One app
- Go to the individual order details page of the IPO that you had applied for.
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Contact Details of Afcom Holdings Limited IPO
- Registered office: 2, LIC Colony Dr. Radhakrishnan Nagar, Thiruvanmiyur, Chennai, Tamil Nadu, India, 600041
- Phone: +91-7305344475 / 9841019204
- E-mail:info@afcomcargo.com
IPO Financials
| Particulars | As at February 29, 2024 | Year ending on March 31, 2023 | Year ending on March 31, 2022 | Year ending on March 31, 2021 |
|---|---|---|---|---|
| Revenue from Operation (in ₹ lakh) | 13369.97 | 8414.42 | 4827.40 | 1388.72 |
| Profit After Tax (PAT) (in ₹ lakh) | 2310.37 | 1358.62 | 514.80 | (420.31) |
| Cash and Cash Equivalents (in ₹ lakh) | 262.06 | 671.26 | 53.49 | 10.89 |
| Net Worth (in ₹ lakh) | 10087.71 | 7330.56 | 2181.65 | (337.19) |
| Debt to Equity Ratio (x) | 0.15 | 0.01 | 0.00 | (4.36) |
| Return on Net Worth (%) | 26.53% | 28.57% | 55.82% | 247.20% |
| Return on Capital Employed (RoCE) (%) | 34.63% | 39.94% | 59.44% | (103.67%) |
| Earning Per Share (EPS)-in absolute ₹ | 13.09 | 7.94 | 4.37 | (3.59) |
Know before investing
Strengths
6-
Experienced management team with over 18 years of industry experience.
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Support from Promoter Capt. Deepak Parasuraman's global aviation network.
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Equipped to handle hazardous cargo with DGCA approvals.
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Early-mover advantage in the highly regulated air cargo industry.
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Extensive safety measures, including high-resolution CCTV and X-ray machines.
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Leasing Boeing Converted Freighters from Spectre Air Capital and Flight Lease 737.
Risks
6-
Promoter Group is involved in multiple legal proceedings.
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Top 5 customers contributed 98.71% of revenues (2024).
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Delivery delays can harm business and customer trust.
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Past negative cash flow impacts financial stability.
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₹1324.26 lakhs outstanding as of February 2024.
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Registered office not owned, leased from the promoter.
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Afcom Holdings IPO FAQs
Afcom Holdings Limited IPO is a book-built IPO. The IPO will be open from August 2, 2024, to August 6, 2024.
The Basis of Allotment will happen on Wednesday, August 7, 2024.
The IPO subscription window will open on August 2, 2024.
The minimum lot size retail investors can subscribe to is 1 lot, and the lot size is 1,200 shares.
The listing date for Afcom Holdings is Friday, August 9, 2024.
Listing gains cannot be ascertained before the listing of the IPO on the stock exchange.
Initially, the bank will only block the amount in your account. The money will not be debited until the stocks are allotted to you.
You must complete the payment process by logging in to your UPI handle and approve the payment mandate.
You can submit only one application using your PAN card.
