Airfloa Rail Tech to form defence & aerospace subsidiary

Airfloa Rail Technology Ltd announced the formation of a new subsidiary focused on defence, aerospace, homeland security, and allied engineering activities. The company also submitted its outcome of the board meeting held on August 7, 2026. This included the statement of deviation or variation in the utilization of IPO proceeds for the quarter ended June 30, 2026, which was reviewed and approved by the Audit Committee and the Board. A Monitoring Agency Report for the same quarter was also noted and approved. The board meeting commenced at 11:30 AM and concluded at 1:00 PM.