AFCOM Holdings Ltd

Afcom Holdings will hold a meeting of the Board of Directors of the Company on 27 May 2025.Powered by Capital Market - Live

Afcom Holdings has appointed Sudhir Laxmikant Deoras (DIN: 00206099) and Arundhati Mech (DIN: 09177619) as Independent Directors on Board of the company with effect from 13 March 2025. Powered by Capital Market - Live

Afcom Holdings will hold a meeting of the Board of Directors of the Company on 13 March 2025.Powered by Capital Market - Live

TT Group and AFCOM Cargo have announced a significant expansion of their strategic partnership, originally established in 2022, now extending across multiple domestic and international destinations. With TT Group appointed as the Global General Sales Agent (GSA) and AFCOM Cargo expanding its freighter fleet, this collaboration marks a major milestone in the dynamic air freight sector. This partnership aligns with AFCOM Cargo's vision of global expansion and enhanced service offerings by leveraging TT Group's expertise in air cargo sales, marketing, and network development. Under this agreement, TT Group will oversee global sales and marketing, while AFCOM Cargo will manage operational activities, ensuring seamless cargo movement across key trade lanes. As part of its market expansion strategy, AFCOM Cargo is set to launch its new route MAA-CMB-MLE-MAA (Chennai-Colombo-Male-Chennai) on February 16, 2025. This service will operate on Thursdays (Day 4) and Sundays (Day 7) from Chennai, complementing its existing and upcoming routes, including MAA-BKKMAA (Chennai-Bangkok-Chennai) and MAA-SIN-MAA (Chennai-Singapore-Chennai). Additionally, AFCOM Cargo is poised to inaugurate its first domestic freighter route, MAA-BOM-DEL-MAA (Chennai-Mumbai-Delhi-Chennai), ensuring seamless cargo connectivity between India's eastern and western hubs and key Southeast Asian markets.Powered by Capital Market - Live

The announcement was made on Sunday, 12 January 2025. Afcom Holdings engaged in carriage of cargo on airport-to-airport basis. It has been operating Cargo Flights to the ASEAN countries like Singapore, Indonesia and Brunei, particularly to Singapore. The company were led by a management team that has extensive industry experience. It has committed senior management team that has extensive experience in the cargo logistics. The company had reported net profit of Rs 18.86 crore and revenues of Rs 88.76 crore for the six months ended on 30 September 2024. Powered by Capital Market - Live

Afcom Holdings has entered into a long term contract with the globally acclaimed airline Ethihad to operate regular schedule flights between Chennai-Male sector to move their cargo.Powered by Capital Market - Live

Afcom Holdings announced that the company has started new international operations to Bangkok. The aircraft was received with a Water Cannon Salute at the Chennai International Airport on 27 December 2024, when it arrived back from BangkokPowered by Capital Market - Live

Afcom Holdings will hold a meeting of the Board of Directors of the Company on 14 November 2024Powered by Capital Market - Live

The scrip was listed at Rs 205.20, a premium of 90% over the initial public offer (IPO) price. The stock was frozen in its upper limit of 5% over its listing price. The counter hit a high of Rs 215.45 and a low of Rs 205.20. About 18.22 lakh shares of the company changed hands at the counter. The issue opened for bidding on 2 August 2024 and it closed on 6 August 2024. The price band of the IPO was set at Rs 102 to Rs 108 per share. The issue was subscribed 203.35 times. The IPO comprised fresh issue of 68,36,400 equity shares. The company intends to utilize the net proceeds to meet working capital requirement, capital expenditure towards taking of two new aircraft on lease basis, prepayment or repayment of all or a portion of certain outstanding borrowings availed by the company, issue expenses and general corporate purpose. Ahead of the Afcom Holdings on 1 August 2024, raised Rs 20.47 crore from anchor investors. The board allotted 18.96 lakh shares at Rs 108 per share to 5 anchor investors. Afcom Holdings engaged in carriage of cargo on airport-to-airport basis. It has been operating Cargo Flights to the ASEAN countries like Singapore, Indonesia and Brunei, particularly to Singapore. The company were led by a management team that has extensive industry experience. It has committed senior management team that has extensive experience in the Cargo logistics. As on 29 February 2024, the company has 47 employees. The company recorded revenue from operations of Rs 133.69 crore and net profit of Rs 23.10 crore for the period as on 29 February 2024.Powered by Capital Market - Live