Afcom Holdings Limited, dba Afcom Cargo, has raised ₹199.85 crores from a qualified institution placement of 26,30,520 equity shares.

Vidhigya Associates advised GYR Capital Advisors Private Limited, the Book Running Lead Manager, and acted as the sole legal counsel for this QIP.

The transaction team consisted of Vedang Mehta (Associate Partner) and Yash Desai (Senior Associate).

Afcom Cargo is engaged in the business of providing air cargo transportation and logistics solutions, specializing in the carriage of cargo on an airport-to-airport basis across domestic and international routes.

The funds will be allocated for expanding the fleet by leasing aircraft, specifically Boeing 737-800 and 777 models, to strengthen their air cargo operations.