Ajax Engineering IPO Closed: Check Subscription Status, GMP, Allotment, Listing Details

Ajax Engineering IPO: The Rs 1,269.35 crore IPO has finally fully subscribed just hours before the closing time of February 12, 2025, with strong demand from qualified institutional buyers (QIB) and high net-worth investors who are NII category. Going ahead, the company will carry its allotment and then listing on BSE and NSE. The latest grey market premium (GMP) suggested a mild upside on the market debut.

Ajax Engineering IPO Subscription Status:

As per NSE data, cumulatively, Ajax Engineering IPO received bids worth 9,12,11,951 equity shares, which is 6.45 times the offered size of 1,41,49,997 equity shares.

The portion of qualified institutional buyers (QIBs) bid the most with an oversubscription of 14.41x, while the portion of non-institutional investors (NII) aka HNIs oversubscribed by 6.47 times. Lastly, retail individual investors (RII) fully subscribed by 1.93x.

The IPO opened on February 10 and closed on February 12. The price band for the IPO was fixed at Rs 599 to Rs 629 per share. Since the IPO is entirely offered for sale, the company will not receive any proceeds from the subscription.

Ajax Engineering IPO Allotment, Listing:

After the IPO, the next step is the basis of allotment to eligible shareholders which will take place on February 13, 2025. Further, the initiation of refunds or credit of shares to the demat account will be done on February 14. The listing is expected next week on February 17.

Ajax Engineering GMP Today:

As per Investor Grain data, Ajax Engineering IPO's last GMP is Rs 10, last updated Feb 12th 2025 10:28 PM. With a price band of 629.00, Ajax Engineering IPO's estimated listing price is Rs 639 (cap price + today's GMP). The expected percentage gain/loss per share is 1.59%.

About Ajax Engineering:

AJAX was established in the year 1992 for manufacturing Self-Loading Concrete Mixer and today is the Global Leader in this product. Over the years, AJAX has evolved by adapting to the needs of its customers with a clear and consistent goal towards becoming the most customer-centric organization. Now, AJAX has emerged as next-gen 360° concreting solutions provider that offers a complete range of products that includes self-loading concrete mixers, concrete batching plants, transit mixers, stationary pumps, boom pumps, self-propelled boom pumps, and slip-form paver offering end-to-end solutions that encompasses production, transport, placement, and pavement.