Press release on Afcom Holdings Limited successfully raising Rs. 199.85 crore via QIP
Price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Afcom Holdings Limited, an air cargo and logistics company listed on BSE's SME platform, has successfully completed its Qualified Institutions Placement (QIP), raising ₹199.85 crore. The company allotted 26,30,520 equity shares at ₹759.72 per share to Qualified Institutional Buyers. The issue price reflects a 4.99% discount to the floor price of ₹799.62 per share. The QIP attracted several marquee investors including Abakkus Emerging Opportunities Fund-1, Bandhan Small Cap Fund, Bandhan Innovation Fund, and others. The funds will be used for fleet expansion through aircraft leasing. GYR Capital Advisors acted as the sole Book Running Lead Manager.
The successful QIP with participation from institutional investors signals market confidence in the company's growth strategy. The 4.99% discount to floor price was modest, suggesting healthy demand. Proceeds for fleet expansion could drive future revenue growth.