Markets / IPO / Ajax Engineering

Ajax Engineering IPO

Updated 18:58

Mainboard IPO on NSE and BSE · Construction Vehicles

Status

Listed

Price band

₹599–629

Lot size

23 shares · ₹14,467

Subscribed

6.45×

How it listed

Issue price

₹629

Listing price (open)

₹576.00 -8.43%

First-day close

₹595.40 -5.34%

Price now

₹556.65 -11.50%

Listing day	17 Feb 2025
Open / high / low / close	₹576.00 / ₹609.00 / ₹566.00 / ₹595.40
Shares traded on NSE	66,86,060
Market value at the listing-day close	₹6,812 cr

Closing prices since listing: 26 Oct ₹529.00, 27 Oct ₹545.55, 28 Oct ₹553.70, 29 Oct ₹551.80, 30 Oct ₹535.50, 2 Nov ₹544.85, 3 Nov ₹550.10, 4 Nov ₹559.95, 5 Nov ₹563.65, 6 Nov ₹561.00.

Ajax Engineering share price, live chart and technicals →

Key dates

Bidding opens	10 Feb 2025
Bidding closes	12 Feb 2025
Allotment	13 Feb 2025
Refunds and shares in demat	14 Feb 2025
Listing	17 Feb 2025

Issue reservation

Investor group	Shares	% of issue	Most applicants allotted
Anchor investors	60,30,449	29.88%	–
Institutions (QIB)	40,20,300	19.92%	–
HNI / NII	30,15,225	14.94%	–
HNI, above ₹10 lakh	20,10,150	9.96%	1,248
HNI, ₹2–10 lakh	10,05,075	4.98%	3,121
Retail	70,35,525	34.86%	3,05,892
Employees	78,947	0.39%	–

Shares NSE lists as offered to each group, plus the anchor portion. "Most applicants allotted" is how many people can get the minimum application in that group when it is oversubscribed.

Lot size by investor type

Application	Lots	Shares	Amount
Retail (minimum)	1	23	₹14,467
Retail (maximum)	13	299	₹1,88,071
Small HNI (minimum)	14	322	₹2,02,538
Small HNI (maximum)	69	1,587	₹9,98,223
Big HNI (minimum)	70	1,610	₹10,12,690

At ₹629 a share. Retail bids go up to ₹2 lakh, small HNI from ₹2 lakh to ₹10 lakh, big HNI above ₹10 lakh.

Chance of getting shares (retail)

Chance

At least 1 in 2

Retail allotments available

3,05,892 × one lot

Retail portion subscribed

1.93×

An estimate from the times the retail portion was subscribed, as if every applicant bid for the minimum. Many bid for more lots, so the real chance is usually better. Winners are picked by lottery and each gets the minimum (one lot).

Subscription

Investor category	Shares offered	Shares bid for	Times subscribed
Institutions (QIB)	40,20,300	5,79,46,016	14.41×
HNI / NII	30,15,225	1,94,95,237	6.47×
HNI, above ₹10 lakh	20,10,150	1,58,30,509	7.88×
HNI, ₹2–10 lakh	10,05,075	36,64,728	3.65×
Retail	70,35,525	1,35,63,767	1.93×
Employees	78,947	2,06,931	2.62×
Total	1,41,49,997	9,12,11,951	6.45×

NSE and BSE bids together, as of 12 Feb 2025 19:00.

Demand at each price

Top price ₹629	799.38 lakh shares	87.6%
Cut-off final price, whatever it is; mostly retail	110.73 lakh shares	12.1%
Lower prices ₹599–628	2.13 lakh shares	0.2%

Shares bid on NSE and BSE at each price in the band. Most bids at the top price, and little at lower prices, means buyers were keen.

Anchor investors

Anchor bid date	7 Feb 2025
Anchor shares	60,30,449
Raised from anchors	₹379.32 cr
Lock-in ends for the first 50% (30 days)	14 Mar 2025
Lock-in ends for the remaining 50% (90 days)	13 May 2025

Anchor investors are large funds that buy the day before the IPO opens. SEBI locks in half their shares for 30 days from the allotment and the rest for 90 days; they can sell from the next trading day. Traders watch these dates because extra selling can come in.

Financials and valuation

	At issue price	Now
Market value	₹7,196 cr	₹6,369 cr
P/E (last 12 months' profit)	30.0	26.6

Revenue, last 12 months	₹2,153 cr
Profit, last 12 months	₹240 cr
Return on equity	15.9%
Debt to equity	0.00

From results the company filed with NSE (latest period to 30 Sept 2026). Twelve-month figures need four quarters of results, so they fill in over the first year after listing.

Other recent IPOs: Construction Vehicles

Company	Listed	Subscribed	On listing	Since IPO
Indo Farm Equipment	7 Jan	229.68×	+19.07%	-43.06%

IPO details

Price band	₹599–629
Final issue price	₹629
Lot size	23 shares
Minimum investment	₹14,467 (1 lot)
Market	NSE mainboard
Issue type	100% Book Building
Face value	Re.1 per Equity Share
Industry	Construction Vehicles
Issue size	Initial Public Offer of up to 2,01,80,446 Equity Shares and Anchor Allocation of 60,30,449 Equity Shares
ISIN	INE274Y01021
Registrar	MUFG Intime India Private Limited (formerly Link Intime India Private Limited) Helpline: 91 81 0811 4949, ajaxengineering.ipo@linkintime.co.in
Lead managers	ICICI Securities Limited, Citigroup Global Markets India Private Limited, JM Financial Limited, Nuvama Wealth Management Limited and SBI Capital Markets Limited
Prospectus	Red herring prospectus (NSE)

Check allotment status

Allotment was finalised on 13 Feb 2025. Check it on the registrar's page (MUFG Intime India Private Limited (formerly Link Intime India Private Limited)), NSE or BSE with your PAN or application number.

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From NSE's official IPO data. Expected dates follow SEBI's T+3 timetable; the exchange confirms them. Information only, not investment advice.

What is the Ajax Engineering IPO price band and lot size?

The price band is ₹599–629 per share, and one lot is 23 shares (₹14,467 at the upper price).

When is the Ajax Engineering IPO allotment date?

Allotment was finalised on 13 Feb 2025, the next working day after bidding closed on 12 Feb 2025.

How many times was the Ajax Engineering IPO subscribed?

In total 6.45 times, on NSE and BSE together; retail 1.93 times.

What is the Ajax Engineering IPO listing date?

It listed on 17 Feb 2025 on NSE and BSE.

What is the chance of getting Ajax Engineering IPO shares?

At least 1 in 2 retail applicants got the minimum lot: 3,05,892 retail allotments with the retail portion subscribed 1.93 times. Winners are picked by lottery.

When does the Ajax Engineering anchor lock-in end?

The 30-day lock-in on half of the anchor investors' shares ends on 14 Mar 2025 and the 90-day lock-in on the rest ends on 13 May 2025; they can sell from the next trading day.

What was the Ajax Engineering listing gain?

It opened at ₹576.00 against an issue price of ₹629, a loss of 8.43%. It is now down 11.50% from the issue price.