The initial public offering of Ajax Engineering Ltd. was subscribed 6.45 times on its third and last day of bidding on Wednesday. According to NSE's consolidated data, the Rs 1,269.35-crore IPO received bids for 9,12,11,951 shares against 1,41,49,997 shares on offer.
Non-institutional investors subscribed 6.47 times the offer, while Qualified Institutional Buyers (QIBs) received 14.41 times the subscription. The portion for Retail Individual Investors (RIIs) was subscribed 1.93 times whereas the employees quota was booked 2.62 times.
The IPO of Ajax Engineering was fully subscribed on its final day after a tepid response on the first few days which was the issue being subscribed 0.28 and 0.49 times on Day 1 and 2 respectively.
The Bengaluru-based manufacturer of concrete equipment had set price band of Rs 599-629 per share. The IPO consists entirely of an offer for sale of up to 2.01 crore equity shares, with a face value of Rs 1 each.
Ajax Engineering last week said it has raised Rs 379.32 crore from anchor investors.
The allotment for the Ajax Engineering IPO will be finalised on Thursday, February 13 and the company will list on the BSE and the National Stock Exchange on Monday, February 17.
ICICI Securities Limited, Citigroup Global Markets India Private Limited, Jm Financial Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited are the book-running lead managers for the IPO.
Investors can check the Ajax Engineering IPO allotment status on the official website of the registrar for the IPO, Link Intime India Pvt. Ltd. or on BSE/NSE website.
How To Check Ajax Engineering IPO Allotment Status On Link Intime
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.
How To Check Ajax Engineering IPO Allotment Status On BSE Website
Go to the official BSE website at https://www.bseindia.com/investors/appli_check.aspx
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.
How To Check Ajax Engineering IPO Allotment Status On NSE Website
Visit the IPO allotment page on the NSE website here: https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids
Select 'Equity & SME IPO bid details'.
Select the company symbol 'AJAXENGG' in the dropdown list.
Enter PAN details and Application Number.
Click on the Submit button to verify your share allotment status.
Ajax Engineering IPO GMP Today
The grey market premium of Ajax Engineering IPO continued to decline for the third straight day. The latest GMP stood was Rs 10 recorded at 9:37 a.m. on Feb. 13, marking a premium of over 1.59% over the issue price. Unlisted shares of concrete equipment manufacturer Ajax Engineering Ltd. were trading at Rs 639 apiece in the grey market.
According to InvestorGain, the GMP of Ajax Engineering was as high as Rs 52 a day before the IPO opened for subscription before declining to Rs 16 at the end of Day 1. The grey market rate continued to slide further and was Rs 7 on Feb. 11. The GMP continued to slide and was Rs 4.5 on Wednesday afternoon only to climb up after interest grew during the final stages of bidding.
Note: GMP or grey market price is not an official price quote for the stock and is based on speculation.
Ajax Engineering is a manufacturer of concrete equipment, with over 110 variants catering to various needs in the concrete application value chain. Established 32 years ago, the company has built a comprehensive product portfolio that includes self-loading concrete mixers, batching plants, transit mixers, boom pumps, and 3D concrete printers.
The company will not receive any proceeds of the offer. Each of the selling shareholders will be entitled to the respective proportion of proceeds of the offer for sale after deducting its portion of the offer-related expenses and the relevant taxes thereon.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
RECOMMENDED FOR YOU
Crizac IPO Subscribed 46% On Day 1 — Check GMP
Jul 02, 2025
Neetu Yoshi IPO Allotment Status: How To Check Status On BSE And Skyline Financial?
Jul 02, 2025
How To Check Adcounty Media IPO Allotment Status On BSE And Registrar Website; Find Latest GMP Here
Jul 02, 2025
Moving Media Entertainment IPO Allotment Status: How To Check On NSE And Registrar Website
Jul 01, 2025
POPULAR