Ajax Engineering IPO Opens on February 10

Founded in July 1992, Ajax Engineering Limited manufactures concrete equipment and operates four facilities in Karnataka. The company is launching its Initial Public Offering (IPO) which will be open for bidding from February 10 to February 12, 2025. The price band has been set between ₹599 and ₹629 per share. 

The IPO is entirely an offer-for-sale (OFS) of 2.01 crore equity shares, meaning there is no fresh issue component. The company expects to raise around ₹1,269.35 crore, with the proceeds going to existing shareholders.

IPO Details 

Lot Size and Requirements

Retail investors must bid for a minimum of 23 shares, requiring an investment of ₹14,467 at the upper price band. For non-institutional investors (NIIs), the minimum lot size is 322 shares (14 lots), amounting to ₹2,02,538. Large NIIs will need to bid for at least 1,610 shares (70 lots), which requires an investment of ₹10,12,690.

Allotment and Listing Timeline

The basis of allotment will be finalised on February 13, 2025. Refunds for unsuccessful bids will be processed on February 14, and shares will be credited to demat accounts the same day. The IPO is scheduled to list on the BSE and NSE on February 17, 2025.

Lead Managers and Registrar

The IPO is managed by ICICI Securities, Citigroup Global Markets India, JM Financial, Nuvama Wealth Management, and SBI Capital Markets. The registrar is Link Intime India Private Limited.

The IPO allocation is divided as follows:

• 50% for Qualified Institutional Buyers (QIBs)
• 15% for Non-Institutional Investors (NIIs)
• 35% for Retail Investors

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments are subject to market risks, read all scheme-related documents carefully.