Ajax Engineering Limited IPO Day 3: Check GMP, Subscription Status & Key Highlights

The subscription window for Ajax Engineering Limited IPO will be closed by today, February 12, 2025. The allotment process will be finalized on February 13, 2025. Ajax Engineering IPO will be listed on BSE, NSE with a tentative listing date fixed as Monday, February 17, 2025.

Ajax Engineering Limited IPO Day 3 Subscription Status 

(February 12, 2025 (Day 3)

On Day 3, Ajax Engineering IPO saw a subscription rate of 0.51 times. The retail category was subscribed  0.54 times, while the Non-Institutional Investors (NII) segment recorded a subscription of 0.65 times. Within the NII category, bids above ₹10 lakh (bNII) reached  0.56 times, while bids below ₹10 lakh (sNII) stood at  0.84 times. The Qualified Institutional Buyers (QIB) segment was subscribed 0.33 times. Meanwhile, the employee portion was subscribed 1.25 times. 

Also Read : Ajax Engineering IPO Day 1 Subscription Status

Ajax Engineering IPO Day 2 Subscription Status

Ajax Engineering Limited IPO GMP (Grey Market Premium)

According to Livemint, as of February 12, 2025, at 08:29 AM, the latest Grey Market Premium (GMP) for Ajax Engineering’s IPO stands at ₹7. With a price band capped at ₹629, the estimated listing price is around ₹636, indicating a potential gain of approximately 1.11% per share.

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

Source: Livemint Media Report dated February 12, 2025

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 Limited IPO Details

Ajax Engineering's IPO has a total issue size of ₹1,269.35 crores, structured entirely as an Offer for Sale (OFS) comprising 2.02 crore shares. The price band is set between ₹599 and ₹629 per share, with a minimum lot size of 23 shares. Retail investors must invest a minimum of ₹14,467, while non-institutional investors (NII) have higher entry requirements. Small NIIs (sNII) need to invest in at least 14 lots (322 shares) amounting to ₹2,02,538, whereas big NIIs (bNII) must invest in 70 lots (1,610 shares), requiring ₹10,12,690.

Utilization of IPO Proceeds

The company will not directly benefit from this IPO, as all proceeds from the Offer for Sale (OFS) will go to the selling shareholders. These shareholders will receive their respective portions of the funds after deducting applicable offer-related expenses and taxes.

Ajax Engineering Limited Business Overview

As of September 30, 2024, Ajax Engineering has developed 141 variants and sold over 29,800 units in India over the past decade. The company dominates India's Self-Loading Concrete Mixer (SLCM) market with a 77% share in FY 2024, and its SLCMs process 12% of the country’s concrete. Ajax operates four manufacturing plants in Karnataka, including the Obadenahalli facility, one of the world’s largest SLCM facilities. It has a strong distribution network with 51 dealerships across 23 Indian states and 25 international dealers across Asia, the Middle East, and Africa. Its portfolio includes SLCMs, batching plants, transit mixers, concrete pumps, slipform pavers, and 3D concrete printers.