Approval and Noting down of Management Statement of Daviation and Variation under Reg-32 and Approval and noting down of Monitoring Ageny Reprot
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Awaiting price reaction for this filing.
Airfloa Rail Technology's board on February 14, 2026 approved the quarterly statement showing how the company has used the money raised from its September 2025 IPO (issue size Rs. 9,109.80 lakhs, net proceeds Rs. 8,884.80 lakhs). As of December 31, 2025, Rs. 7,631.39 lakhs has been utilized and Rs. 1,253.41 lakhs remains unutilized, mostly parked in fixed deposits with Axis Bank earning 3.75% interest. Loan repayment (Rs. 600 lakhs), working capital (Rs. 5,927.02 lakhs) and general corporate purposes (Rs. 990 lakhs) have been fully deployed, while capex utilization is only Rs. 114.37 lakhs out of Rs. 1,367.78 lakhs planned. The statutory auditor (Varadarajan & Co) certified that utilization is in line with the IPO prospectus, with no deviations or delays reported.
This is a routine quarterly compliance update showing on-track, deviation-free use of IPO funds. The positive confirmation supports management credibility, though the slow capex deployment (only ~8% used so far) may draw investor attention on execution pace.