IPO · Enterprise Software & IT

Air IQ files confidentially for Rs 1,000 crore IPO

By Startup Enthusiast · 25 September 2026

What they do

The Siliguri firm runs software that links airlines, hotels, travel agents and technology partners on one system

It has quietly lodged draft papers with Sebi to raise about Rs 1,000 crore from a share sale and fresh shares

Roughly 60 percent is promoters selling existing shares, so most of the money reaches them rather than the company

Air IQ has filed its draft offer document with market regulator Sebi under the confidential route.
The papers went in a day before the news came out, on 24 September 2026.
The company is looking to raise in the region of Rs 1,000 crore.
The issue mixes fresh shares with a sale of shares already held.
About 60 percent of the offer is the share sale by existing holders.
The promoters and their family will sell part of their holding through ten separate blocks in that portion.
Pantomath Capital Advisors is the only merchant banker managing the issue.
Because the filing is confidential, the full document is not public at this stage.

Indian listings have had a busy year, with more than 80 main board issues so far in 2026.
Those issues together raised close to Rs 1.10 lakh crore.
It is the third year running that yearly IPO fundraising has crossed the Rs 1 lakh crore mark.

Air IQ sells travel technology and distribution services to other businesses rather than to travellers directly.
Its platform brings airlines, hotels, travel agencies and technology partners into one connected setup.
Agencies use it to run search, booking and ticketing from a single place.
It also covers work that comes after a booking, such as changes and follow-up handling.
The company is based in Siliguri in West Bengal, away from the usual metro startup hubs.

Sebi must review the confidential papers before the offer can move ahead.
A public version of the document would normally follow if the company decides to proceed.