Afcom Holdings IPO

Incorporated in Feburary 2013, Afcom Holdings Limited is involved in transporting cargo on an airport-to-airport basis. The company has General Sales and Service Agents (GSSAs) in India, Hong Kong, Singapore, Thailand, Japan, South Korea, China, and Taiwan. The company operates cargo flights to the ASEAN (Association of Southeast Asian Nations) countries, including Singapore, Indonesia, and Brunei, with a focus on Singapore. The company signed an agreement on 24 September 2021 with the Air Logistics Group, a division of World Freight Company, a global leader in the cargo sales and service business. The Air Logistics group will act as the Company's General Sales and Service Agent (GSSA) in far-eastern countries. Additionally, on 13 October 2022, the company agreed with Taylor Logistics Private Limited, a part of the TTK Group, to serve as the GSSA in India. As of February 29, 2024, the company has 47 employees, including 21 crews. Among them, they have 10 captains, 6 first officers, 3 Transition Captains, and 2 Trainee First Officers.

The objects of the Issue are: - Funding 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 Funding of working capital requirement General Corporate Purposes To meet the Issue Expenses

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