Good news for stock market investors! Ajax Engineering Limited’s IPO has opened today, offering an opportunity to invest in the primary market.
The IPO size is ₹1,269.35 crore, with the company offering 2.02 crore shares under the Offer for Sale (OFS). Here are the key details:
IPO Dates: Open from February 10 to February 12, 2025.
Allotment Date: Proposed on February 13, 2025.
Price Band and Lot Size
Price Band: ₹599 to ₹629 per share.
Lot Size: 23 shares, requiring a minimum investment of ₹14,467.
Employee Discount: ₹59 per share.
Ajax Engineering plans to list its shares on both the BSE and NSE. Additionally, the company raised ₹379.32 crore from anchor investors on February 7, 2025.
Of the total IPO size, 50% is reserved for qualified institutional buyers (QIBs), while retail investors get at least 35%.
Grey Market Premium (GMP) Update
According to Investors Gain, the company’s IPO is trading at a premium of ₹52 in the grey market as of today.
The highest GMP so far has been ₹58 per share, recorded on February 5, 2025. Since then, fluctuations have been observed in the GMP.
Before the IPO launch, the promoters held a 93.50% stake in the company.
Price Band and Lot Size
The price band for the IPO is set at ₹599 to ₹629 per share. Investors will need to purchase shares in lots of 23, meaning the minimum investment will be ₹14,467. Employees of the company will receive a discount of ₹59 per share.
Ajax Engineering shares will be listed on both BSE (Bombay Stock Exchange) and NSE (National Stock Exchange).
The company has already raised ₹379.32 crore from anchor investors during the IPO opening for them on February 7, 2025.
In terms of allocation, 50% of the IPO is reserved for qualified institutional buyers (QIBs), while 35% is set aside for retail investors.
