Ajax Engineering IPO Allotment Finalized: Subscription Hits 6.06 Times, GMP at Rs 10 – Check Status and Listing Details

The Ajax Engineering IPO, which was subscribed 6.06 times during its 3-day bidding period, attracted significant demand across all investor categories, with retail investors subscribing 1.94 times, Qualified Institutional Buyers (QIBs) 13.04 times, and Non-Institutional Investors (NIIs) 6.46 times.

The IPO offered 1.41 crore shares, receiving bids for 8.57 crore shares. Allotment status will be finalized on February 13, 2025, and the shares are expected to list on the BSE and NSE on February 17, 2025, with an estimated listing price of Rs 639, reflecting a 1.59% gain. Retail investors were required to make a minimum investment of Rs 13,777 for a lot size of 23 shares. Financially, Ajax Engineering reported a profit after tax (PAT) of Rs 101.02 crore for H1 FY 2024-25 and Rs 225.14 crore for FY 2023-24.

Ajax Engineering IPO Allotment Finalized: Subscription Hits 6.06 Times, GMP at Rs 10 – Check Status and Listing Details

The allotment for Ajax Engineering Limited’s IPO will be finalized on February 13, 2025, after the issue was subscribed 6.06 times during its 3-day bidding period from February 10 to February 12, 2025. The retail segment was subscribed 1.94 times, Qualified Institutional Buyers (QIBs) 13.04 times, and Non-Institutional Investors (NIIs) 6.46 times. The offer, which included 1,41,49,997 shares, received bids for 8,57,62,377 shares.

Investors can check the allotment status through the Bombay Stock Exchange (BSE) website or Link Intime India Private Ltd’s official portal.

As of February 13, 2025, the grey market premium (GMP) stood at Rs 10, with the estimated listing price expected to be Rs 639, indicating a 1.59% gain based on the upper price band of Rs 629. The shares are scheduled to list on the BSE and NSE on February 17, 2025. Retail investors were required to make a minimum investment of Rs 13,777 for a lot size of 23 shares.

On the final day of bidding, Ajax Engineering’s IPO was subscribed 6.44 times, with the retail portion booked 1.92 times. Qualified Institutional Buyers (QIBs) showed significant interest, oversubscribing their segment 14.41 times, and Non-Institutional Investors (NIIs) oversubscribed 6.46 times. The IPO attracted applications for more than 9.11 crore shares, far exceeding the 1.41 crore shares available.

Investors can track the allotment status on BSE, NSE, or through Link Intime India Pvt Ltd. The price band for the IPO was Rs 599 to Rs 629 per share, and retail investors were required to invest a minimum of Rs 14,467 for one lot (23 shares).

Ajax Engineering’s IPO is a complete Offer-for-Sale (OFS) of 2.02 crore shares, with proceeds going to the selling shareholders. The shares are expected to list on February 17, 2025.

Financially, Ajax Engineering posted a profit after tax (PAT) of Rs 101.02 crore for the first half of FY 2024-25, and Rs 225.14 crore for FY 2023-24.