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Ajax Engineering IPO: Ajax Engineering Limited’s unrestured shares are currently trading on zero GMP, indicating a flat or negative list on 17 February.
Ajax Engineering IPO.
Ajax engineering IPO listing tomorrow: Kedara Capital-supported concrete equipment manufacturer Ajax Engineering Limited (AEL), whose IPO was opened between February 10 and February 12, has been designed to list both BSE and NSE on Monday, 17 February. The IPO of Rs 1,269.35 crore was overall 6.06 times membership, bids for 8,57,62,377 shares against 1,41,49,997 shares on the proposal.
The price of IPO has been fixed at Rs 599.
So far, the retail category has been subscribed by 1.94 times membership, while NII has received 6.46 times. The QIB category got 13.04 times membership.
The IPO share allocation has already been finalized and investors can check the status of their allocation on Link Inteime India portal.
Ajax Engineering IPO GMP today
According to market observers, unrestaded shares of Ajax Engineering Limited are currently trading on zero GMP, indicating a flat or negative list on 17 February. The GMP has fallen continuously as the IPO was opened on 10 February, when the gray market premium was standing. At 8.27 percent.
Currently, unlisted shares are trading at Rs 629, which is the same as an IPO price of Rs 629.
GMP is based on market sentiments and changes. The ‘gray market premium’ indicates the readiness to investors to pay more than the problem price.
Ajax Engineering IPO: More details
The initial public offering (IPO) is a complete proposal of 2.01 crore shares-sell-sell-selling (O.S), which is priced at Rs 1,269 crore at the top of the value limit, by its promoters and an investor shareholder.
As part of Oss, Kedara Capital will discontinue 74.37 lakh shares.
Since the public issue is fully offs, Ajax engineering will not get any income from the IPO.
The market capitalization of the company at the upper end of the price band has been judged for Rs 7,200 crore.
Next to the IPO, Ajax Engineering increased by anchor investors by more than Rs 379 crore, which took place a few days before the inauguration of its early share-selling for public membership.
Ajax engineering is a major solid tool manufacturer, which is with a broader category of related tools, services and solutions in the concrete application price chain. The company operates four assembling and manufacturing facilities in Karnataka, specializing in each different product lines. In addition, an assembling and manufacturing facility in Karnataka, Edinarayahoshalli is under construction and is expected to be operational in August 2025.
Ajax Engineering reported its FY24 revenue from the operation of Rs 1,741 crore with benefits after a tax of Rs 225 crore.
ICICI Securities, Citigroup Global Markets India, JM Financial, Nuwama Wealth Management and SBI Capital Markets are the lead lead managers for the issue.
