New Delhi, Sept. 11 -- The initial public offer (IPO) of Airfloa Rail Technology sailed through on the first day of the bidding process on Thursday, September 11, amid a strong grey market premium.

The Rs.91 crore SME IPO is open for bidding till September 15.

As of 12.50 pm on Thursday, Airfloa Rail Technology IPO was booked 10.07 times, as the issue received bids for 4,35,81,000 shares as against 43,29,000 shares on offer.

The retail portion of the Airfloa Rail Technology IPO was booked 16.18 times, the non-institutional investor (NII) part was subscribed 9.20 times, while the bidding for the qualified institutional buyer (QIB) segment was nil so far.

The company enjoyed a strong GMP. Airfloa Rail Technology IPO GMP today is Rs.165....