Ajax Engineering IPO Allotment On Feb-13; How To Check Status Online? Latest GMP Hints At 2% Premium Listing

Ajax Engineering IPO Allotment: Ajax Engineering IPO is expected to carry its basis of allotment on Thursday, February 13, after receiving healthy demand during its subscription period. The latest grey market premium (GMP), however, signalled a marginally 2% premium listing next week. Ajax which was entirely an offer for sale, received strong demand from institutional buyers and NIIs.

Ajax Engineering IPO Allotment Status:

To Check Application Status At Link Intime, Click On The Link Below:

https://in.mpms.mufg.com/Initial_Offer/public-issues.html

It needs to be noted that Link Intime is now MUFG Intime India Private Limited. Follow the below steps to review your application.

Step 1: After opening the link, you will be directed to the IPO allotment page. Click on 'Ajax Engineering Limited' in the 'Select Company' option.

Step 2: Choose between PAN number, Application number, DP/Client ID, Account number of IFSC code and enter the details into a box below the options.

Step 3: Click On Submit!

To Check Your Application Status On BSE, Click On The Link Below:

https://www.bseindia.com/investors/appli_check.aspx

Step 1: Select the issue type between equity or debt. In Ajax Engineering's case, the type is 'Equity'.

Step 2: Step 2: Select the issue name which will be 'Ajax Engineering Limited'.

Step 3: The third step is to either enter the Application No or PAN Number to view the status.

Step 4: Lastly, Click On Search.

To Check The Application Status On NSE, Click On The Link Below:

https://www.nseindia.com/invest/check-trades-bids-verify-ipo-bids

Step 1: Select between Equity & SME IPO bid details or Debt IPO bid details. Click on the first option.

Step 2: Select the company symbol, which on NSE is 'AJAXENGG'.

Step 3: Either PAN card and Application number. Lastly, Click On Submit!

Ajax Engineering IPO GMP Today:

As per Investor Grain data, Ajax Engineering IPO last GMP is Rs 12, last updated Feb 13th 2025 01:35 PM. With the price band of 629.00, Ajax Engineering IPO's estimated listing price is Rs 641 (cap price + today's GMP). The expected percentage gain/loss per share is 1.91%.

Ajax Engineering IPO Listing:

After the basis of allotment, the next step would be the initiation of refunds or credit of shares to the demat account which will be done on February 14. The listing is expected next week on February 17.

According to brokerage SMIFS Limited, Ajax stands as a dominant player in India's concrete equipment market, particularly in Self-Loading Concrete Mixers (SLCMs), where it commands a substantial 77% market share in FY24. Its leadership in the SLCM segment, combined with a comprehensive portfolio of 141 concrete equipment variants and a vast dealer network spanning 51 dealerships with 114 touchpoints across 23 states, positions the company to capitalize on the increasing demand from the infrastructure and housing sectors, which together contribute nearly 90% of India's cement consumption. The company's strategic focus on expanding its presence in non-SLCM products, including batching plants, concrete pumps, and transit mixers, has already delivered a robust CAGR of 24.42% between FY22 and 6MFY25.

Additionally, the brokerage highlighted that Ajax's innovation-driven approach, marked by the development of India's first in-house 3D concrete printer and slip-form paver, demonstrates its commitment to technological advancement and operational efficiency, providing faster and more cost-effective solutions for construction projects. Export growth has been another key driver, with the company successfully entering 46 international markets since FY20. With a focus on further penetrating regions such as South Asia, the Middle East, and Africa, Ajax's export strategy, alongside its plans to introduce innovative financing solutions, is expected to bolster its top-line growth while diversifying revenue streams.

Furthermore, it pointed out that Ajax is deepening its market presence by expanding its dealer network and leveraging cross-selling opportunities across its product segments. With plans to scale production capacity and support rising demand, the company is well-positioned to maintain its competitive edge. Supported by increasing infrastructure investments and favourable government initiatives in India, Ajax is poised to sustain strong
financial growth and enhance its leadership in both domestic and global markets.

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. On the final day, the IPO had subscribed by 6.45x.