Airfloa Rail Technology Limited has announced securing a major new order worth ₹11.78 crores from Integral Coach Factory, marking a significant business milestone for the Chennai-based rail technology company. The order was received on February 18, 2026, at 2:25 PM from the Furnishing Division of Integral Coach Factory, Chennai.

Order Details and Specifications

The domestic order encompasses the supply and installation of roller blinds specifically designed for LHB AC Amrit Bharat version 3.0 coaches. The comprehensive project details are outlined below:

Contractual Framework

The order operates under the Indian Railways Standard Conditions of Contract (Latest Edition) and General Conditions of Contract for the Stores Department of Indian Railway. The company confirmed that this is a domestic entity transaction with no related party involvement or promoter group interest in the awarding entity.

Company Background

Airfloa Rail Technology Limited, formerly known as Airflow Equipments India Pvt Ltd, is listed on BSE with scrip code 544516 under the symbol AIRFLOA. The company is headquartered in Chennai and specializes in rail technology solutions. The company maintains its registered office at No.9, Chelliamman Koll Street, Keelkatalai, Chennai - 600117.

Regulatory Compliance

The order announcement was made in compliance with Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024. Company Secretary and Compliance Officer Haraprasad Rout (Membership No.: A18749) filed the disclosure with BSE Limited on the same day.

This substantial order reinforces Airfloa Rail Technology Limited's position in the railway equipment sector and demonstrates the company's capability to secure significant contracts from premier railway manufacturing facilities.

Airfloa Rail Technology Limited convened a board meeting on February 14, 2026, to review and approve the utilization of Initial Public Offer (IPO) proceeds for the quarter ended December 31, 2025. The meeting, held pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, addressed the company's compliance with IPO fund deployment requirements.

IPO Details and Fund Mobilization

The company successfully completed its public issue from September 11, 2025, to September 15, 2025, raising Rs. 9,109.80 lakhs. The IPO was conducted by Airfloa Rail Technology Limited, formerly known as Airflow Equipments India Pvt Ltd, a manufacturer of railway products. The net proceeds from the issue amounted to Rs. 8,884.80 lakhs after accounting for issue expenses.

Fund Utilization Progress

The company demonstrated significant progress in deploying IPO proceeds across its stated objectives during the quarter:

As of December 31, 2025, the company has utilized Rs. 7,631.39 lakhs out of the total net proceeds, representing approximately 86% deployment. The primary area with remaining funds is capex, where Rs. 1,253.41 lakhs remains unutilized.

Fund Management and Deployment

The company maintains a structured approach to fund management through monitoring agency arrangements. Rs. 8,732.21 lakhs was transferred from the Public Issue Account to the Monitoring Agency Account, while Rs. 152.59 lakhs remains in the Public Issue Account. During the quarter, Rs. 285.17 lakhs was transferred from the monitoring agency to the company's current account and was fully utilized toward the stated objectives.

General Corporate Purpose Utilization

The company deployed Rs. 990.00 lakhs allocated for General Corporate Purposes as follows:

• Capex: Rs. 200.00 lakhs for advance payment toward land purchase
• Working Capital: Rs. 790.00 lakhs for material purchases under working capital requirements

Regulatory Compliance and Auditor Certification

Varadarajan & Co, Chartered Accountants, the company's statutory auditors, certified that the utilization of net proceeds during the quarter ended December 31, 2025, is in agreement with the unaudited books of account and in accordance with the purposes mentioned in the IPO prospectus. The auditors confirmed no material deviations from the stated objectives and found all utilization to be as per offer document disclosures.

The company reported no delays in implementation of objectives during the quarter and confirmed that no cost revisions were made to the original project estimates. The monitoring agency report for the quarter ended December 31, 2025, was also approved as per Regulation 262 of SEBI (Issue of Capital and Disclosure Requirements) Regulations, 2018.