Ajax Engineering IPO closes today; subscription rises 52%, GMP at 1%

Ajax Engineering IPO has seen moderate investor participation, with QIBs subscribing to 33 per cent, NIIs bidding for 68 per cent, and RIIs taking up 56 per cent of their allocated shares

Ajax Engineering IPO Day 3: The three-day subscription window for Ajax Engineering’s initial public offering (IPO) is set to close today, Wednesday, February 12, 2025. After opening on February 10, 2025, the offering has thus far seen a tepid response from investors. According to the latest data from the National Stock Exchange (NSE), the IPO has been subscribed to 52 per cent as of around 10:21 AM on Wednesday, February 11, 2025.

 

Ajax Engineering IPO subscription overview

Investor participation has been relatively moderate across different segments. Qualified Institutional Buyers (QIBs) have subscribed to 33 percent of the shares allocated to them. Non-Institutional Investors (NIIs) have bid for 68 per cent, while Retail Individual Investors (RIIs) have taken up 56 per cent of the allocated shares.

 

Ajax Engineering IPO price band, lot size

The Ajax Engineering IPO is priced within a band of Rs 599 to Rs 629 per share, with a lot size of 23 shares. Retail investors will need a minimum of Rs 14,467 to bid for one lot, and they may apply for up to 13 lots (299 shares) within the maximum investment limit of Rs 2,00,000.

 

Ajax Engineering IPO grey market premium (GMP)

The grey market premium (GMP) for Ajax Engineering’s IPO has declined since its launch. As of Wednesday, February 12, 2025, shares were trading at Rs 636 each in the grey market, reflecting a premium of Rs 7, or 1.11 per cent, over the upper price band of Rs 629, according to sources tracking grey market activities. This represents a decrease from the record GMP of Rs 681 observed on the IPO’s opening day, February 10, 2025.

 

Ajax Engineering IPO review

The offering has garnered favorable assessments from several brokerages, including KR Choksey, Reliance Securities, and BP Equities. READ MORE

 

Ajax Engineering IPO allotment, listing timetable

The subscription window for Ajax Engineering’s IPO is scheduled to close today, February 12, 2025. The basis of allotment will likely be finalized on Thursday, February 13, 2025, with shares expected to be credited to investors' demat accounts by Friday, February 14, 2025. The company’s shares are set to debut on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on Thursday, February 19, 2025.

 

About Ajax Engineering

Ajax Engineering, co-founded by Krishnaswamy Vijay, the late Jacob John, and the late Anil Kumar Singh, is engaged in the business of designing, developing, and engineering innovative and high-quality concrete equipment. The company’s product portfolio includes self-loading concrete mixers (SLCM), batching plants, transit mixers, self-propelled boom pumps, concrete slip-form pavers, bin batching plants, and 3D concrete printers.