Afcom Holdings IPO: The initial public offering (IPO) of the cargo transportation company Afcom Holdings concluded on Wednesday, August 7, 2024, and the allotment status is in focus to be finalised. The investors who applied for Afcom Holdings public issue can check the IPO allotment status in the registrar's portal at Link Intime India Private Limited.
Investors can identify if and how many shares have been allotted through the initial public offering. The refund process will start on Thursday, August 8, for those investors who were not allotted the company shares at the end of the public offer. The investors who will be allotted the shares will be receiving the shares in their demat accounts on the same day.
Afcom Holdings IPO was subscribed over 300 times on the final day of the IPO bidding. The cargo transporter's IPO listing date has been set as August 9 to be listed on the BSE SME index. If you applied for the company shares, here's how you can check the allotment status of Afcom Holdings IPO:
Once the registrar has announced the allocation for the Afcom Holdings IPO, the investors who bid for the public issue will be able to check the IPO's allotment status online. They need to log in to the website of its official registrar - Link Intime Private Limited.
Step 1: Go to the Link Intime website
Step 2: Log in to the Link Intime website (https://linkintime.co.in/mipo/ipoallotment.html)
Step 3: Click on the 'Company Selection' and then select the name of the IPO
Step 4: Now, the investor has to enter the PAN, Application number, DP / Client ID, or account number / IFSC.
Step 5: Click on the ‘Search’ icon.
Afcom Holdings IPO GMP or grey market premium is at ₹80 per share as of August 7. This grey market premium indicates that the shares were trading at a premium of ₹80 per share, according to investorgain.com. The GMP for a share indicates the investors are willing to pay that much more for the share in the market.
Considering the upper price band of the public issue and the current grey market premium, Afcom Holdings SME IPO is expected to list 74.07 per cent higher at an estimated listing price of ₹188.
Afcom Holdings is now an international cargo airline which deals with cargo operations. The company started out of Chennai, India, and now provides cargo transportation solutions to various countries through international hubs.
Afcom Holdings provides products that include General Cargo, Flying Fresh, Flying Pharma, Flying priority, Fly Courier, Project Cargo, Dangerous Goods and High Value Cargo, as per the company website.
The promoters for Afcom Holdings are Capt. Deepak Parasuraman, Kannan Ramakrishnan, Wg. Cdr. Jaganmohan Mathena (Retd) and Manjula Annamalai. The company aims to use the money raised from the public offer for capital expenditure on leasing two new aircraft, prepayment or repayment of outstanding borrowings, funding working capital requirements, and general corporate purposes, according to the company.
