Ajax Engineering IPO: Check allotment status and latest GMP

New Delhi: The allotment for the Ajax Engineering initial public offering (IPO) will be announced shortly. The IPO was open for subscription from February 10, 2025, to February 12, 2025.

The Investors can check the status of Ajax Engineering IPO allotment on the NSE, BSE, and registrar’s websites.

Ajax Engineering IPO allotment status check on Linkintime

• Visit the official website of Link Intime India here
• Choose 'Ajax Engineering Limited' from the list of companies. (The name will be displayed once the share allocation is finalised)
• In the verification selection type, choose either PAN, Application Number, DP/Client ID, or Account No./IFSC
• Enter the required information
• Finally, click the 'Submit' button to check your allotment status

Ajax Engineering IPO allotment status check on NSE

• Open the website of NSE by clicking on this direct link here
• Register by signing up using your details and then submit
• Select 'Ajax Engineering'
• Investors can check the allotment status by filling in details like their IPO Application number
• Press the Submit button
• The allotment status will be shown in the window

Ajax Engineering IPO allotment status check on BSE

• Go to the official BSE website here
• Select the issue type as 'Equity'
• Choose 'Ajax Engineering Limited' from the dropdown menu
• Enter your application number or PAN (Permanent Account Number)
• Complete the 'Captcha' for verification
• Click on the 'Search' button to view your allotment status

Ajax Engineering IPO listing date

Ajax Engineering shares are slated to be listed on NSE, and BSE on February 17, while the allotment is likely to take place, today, on February 13.

Ajax Engineering IPO GMP update

According to investorgain.com, as of February 13, 2025, the Grey Market Premium (GMP) for Ajax Engineering IPO was Rs 12 or 1.91% over the upper end of the IPO price band of Rs 629.

If the current grey market trends are sustained, the shares may list flat at around Rs 641 per share.

The grey market is an unofficial place to trade shares ahead of listing. Market participants keep a watch on GMP to track listing gains.

Ajax Engineering IPO subscription data

The Rs 1,269 crore public offering of Ajax Engineering, offered at a price band of Rs 599-629 with a lot size of 23 shares, received bids for 91,211,951 shares against the 14,149,997 shares offered. This led to an oversubscription of 6.45 times by the end of the subscription period, as per data available on the BSE.

Ajax Engineering IPO witnessed the highest demand from Qualified Institutional Buyers (QIBs), who oversubscribed to 14.41 times the quota reserved for them. This was followed by Non-Institutional Investors (NIIs), who bid for 6.47 times their allocated quota, and Retail Individual Investors (RIIs), who subscribed 1.93 times.

Ajax Engineering IPO objectives

The company's initial public offering (IPO) is a complete offer-for-sale (OFS) of 2.01 crore shares, valued at Rs 1,269 crore at the top end of the price range, by its promoters and an investor shareholder.

The company will not receive any proceeds from the offer. Each of the selling shareholders will be entitled to their respective proportion of the proceeds from the offer for sale after deducting their portion of the offer-related expenses and applicable taxes.

Ahead of the IPO, Kedaara Capital-backed Ajax Engineering on Friday said it has mobilised over Rs 379 crore from anchor investors. The board allotted 60.30 lakh shares at Rs 629 each to 23 anchor investors.

The firm reported a consolidated net profit of Rs 101.02 crore and sales of Rs 769.99 crore for the six months ended on 30 September 2024.

About Ajax Engineering company

Ajax Engineering is a leading concrete equipment manufacturer with a comprehensive range of related equipment, services, and solutions across the concrete application value chain.

The company operates four assembling and manufacturing facilities in Karnataka, each specialising in distinct product lines. Besides, an assembling and manufacturing facility at Adinarayanahosahalli, Karnataka is under construction and expected to become operational in August 2025.

ICICI Securities, Citigroup Global Markets India, JM Financial, Nuvama Wealth Management, and SBI Capital Markets are the book-running lead managers to the issue.