Ajax Engineering IPO Allotment Status: Check Latest GMP, Steps To Verify Status

The allotment for the Ajax Engineering IPO will be finalised today, February 13, 2025. The IPO was open for subscription from February 10, 2025 to February 12, 2025. Investors can check the status of Ajax Engineering IPO Allotment on the NSE, BSE, and registrar’s websites.  Here’s how to check the allotment status. 

Step-by-Step Procedure to Check Ajax Engineering IPO Allotment Status Online On NSE

• Click here to visit the NSE’s IPO allotment verification status. 
• Select “Equity & SME IPO bid details.”
• In Select Symbol, select “AJAXENGG.”
• Enter your PAN No. and application No.
• Click “Submit.”

Step-by-Step Procedure to Check Ajax Engineering IPO Allotment Status Online On BSE

• Click here to visit the application status page. 
• In Issue Type, “Equity.”
• In Issue Name, select “Ajax Engineering Limited.”
• Enter your “Application No.” or “PAN No.”
• Click on “I am not a Robot.”
• Click “Submit.”

Step-by-Step Procedure to Check Ajax Engineering IPO Allotment Status On MUFG Intime India Private Limited

• Click here to visit MUFG Intime’s application status page. 
• In Please select company, select “Ajax Engineering Limited.”
• Enter any of the following details. 
• • • PAN
    • App. No.
    • DP/Client ID  
    • Account No / IFSC

• Click “Submit.”

IPO Details

Ajax Engineering IPO is a book-built issue of Rs 1,269.35 crores, which is an entire offer for the sale of 2.02 crore shares. The company, a leading concrete equipment manufacturer, offered shares in a price band of ₹599 to ₹629 per share. 

The minimum lot size for retail investors is 23 shares per lot, requiring an investment of ₹13,777. However, bidding at the cutoff price is advisable to secure allotment amid high demand, which amounts to approximately ₹14,467. 

For non-institutional investors (NIIs), the minimum lot size varies; small NIIs (sNII) must bid for at least 14 lots (322 shares), amounting to ₹2,02,538, while big NIIs (bNII) must apply for a minimum of 70 lots (1,610 shares), requiring an investment of ₹10,12,690

Use of Proceeds

As the IPO is entirely an Offer for Sale, Ajax Engineering will not receive any proceeds from this offering. The funds will be distributed among the shareholders who are selling their stakes. 

Ajax Engineering IPO Overall Subscription Status 

(February 12, 2025, End of Day)

By the end of the subscription period, Ajax Engineering IPO received an oversubscription of 6.45 times overall (as per data available on BSE). Of these, 

• Qualified Institutional Buyers(QIBs) subscribed 14.41 times
• Non-institutional investors subscribed 6.47 times
• Retail Individual Investors (RIIs) subscribed 1.93 times
• Employees subscribed 2.62 times. 

GMP (Grey Market Premium) Details

According to Business Standard, as of February 13, 2025, the Grey Market Premium (GMP) for Ajax Engineering IPO was Rs 3 or 1.59% over the upper end of the IPO price band of Rs 629. If the current grey market trends are sustained, the shares may list flat at around Rs 632 per share.

Note: The Grey Market Premium (GMP) is not an official price and is based on market speculation.

Source: Business Standard Media Report dated February 13, 2024

Disclaimer: The GMP (Grey Market Premium) price is an unauthenticated market related news and has no discernible basis. The same quoted above is as per news appeared in the media report and is for information purposes only. The investor shall do their own study/research before using the same for taking any decision to invest. We neither engage in, trade, or deal in the grey market nor we recommend or endorse trading in the grey market.

Ajax Engineering Business Overview

Ajax Engineering is involved in concrete equipment manufacturing, services and solutions across the entire concrete application value chain. As of September 30, 2024, the company has developed 141 concrete equipment variants and sold over 29,800 units in India over the past decade. In FY 2024, the company held a 77% market share in India's SLCM market. And that’s not all—12% of the concrete produced in India is processed using Ajax Engineering's SLCMs ((Self-Loading Concrete Mixers). 

Ajax Engineering operates four specialized manufacturing facilities in Karnataka, and Obadenahalli Facility, with an area of 39,660.38 sqm, is one of the world's largest SLCM manufacturing plants in terms of area. The company has an extensive distribution network, with 51 dealerships across 23 states in India, providing 114 touchpoints, including 51 headquarters and 63 branches, 34 of which also serve as service centres. Internationally, Ajax Engineering has expanded its presence with 25 dealers and distributors across South and Southeast Asia, the Middle East, and Africa.